I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Finchley. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Finchley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Finchley so you should seriously consider shopping around for a Finchley conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.

I own a leasehold flat in Finchley. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Finchley who previously acted has long since retired.Any advice?

First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Finchley conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you offer any advice when it comes to finding a Finchley conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Finchley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Finchley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• What volume of lease extensions has the firm carried out in Finchley in the last twenty four months?
• Can they put you in touch with client in Finchley who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Finchley from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Finchley can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• The majority landlords or Management Companies in Finchley charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Finchley.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Finchley state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such works. If you fail to have the paperwork in place do not contact the landlord without contacting your solicitor in advance.
• If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
• If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a lengthy process and slows down many a Finchley conveyancing transaction. If a reissued share is required, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Finchley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the sum to be paid.

An example of a Lease Extension case for a Finchley residence is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case affected 1 flat. The the unexpired term as at the valuation date was 56.65 years.

What makes a Finchley lease defective?

Leasehold conveyancing in Finchley is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

Finchley Leasehold Conveyancing - A selection of Queries before Purchasing

What is the the remaining lease term? Who is in charge of the block? The answer will be important as a) areas can cause problems in the block as the common areas may start to deteriorate if maintenance are not paid for b) if the tenants have a dispute with the managing agents you will want to have all the details