Leasehold Conveyancing in Finchley - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Finchley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Finchley and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Finchley leasehold conveyancing

I wish to rent out my leasehold flat in Finchley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A small minority of properties in Finchley do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Due to exchange soon on a basement flat in Finchley. Conveyancing lawyers have said that they are sending me a report next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Finchley should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Whether your lease has a provision for a sinking fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Finchley please ask your lawyer in ahead of your conveyancing in Finchley

    • I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Finchley. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Finchley ?

    The majority of houses in Finchley are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Finchley so you should seriously consider looking 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 number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

    Do you have any advice for leasehold conveyancing in Finchley with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Finchley can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
    • Many landlords or Management Companies in Finchley charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Finchley.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Finchley leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the consents in place you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of Finchley leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Completion in due on the sale of our £125000 flat in Finchley on Tuesday in a week. The management company has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Finchley?

    Finchley conveyancing on leasehold apartments usually requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    We have reached the end of our tether in trying to reach an agreement for a lease extension in Finchley. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We are happy to put you in touch with a Finchley conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Finchley premises 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 number of years remaining on the existing lease(s) was 56.65 years.

    Other Topics

    Lease Extensions in Finchley