Common questions relating to Finchley leasehold conveyancing
I only have 68 years left on my flat in Finchley. I now wish to extend my lease but my freeholder is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have done all that could be expected to locate the landlord. In some cases an enquiry agent may be useful to carry out a search and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Finchley.
Looking forward to complete next month on a leasehold property in Finchley. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Finchley should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
Estate agents have just been given the go-ahead to market my basement apartment in Finchley.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Back In 2004, I bought a leasehold house in Finchley. Conveyancing and Alliance & Leicester 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. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Finchley who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Finchley conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Finchley. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Finchley conveyancing firm to act on my behalf?
Most definitely. We can 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 flat 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 was in relation to 1 flat. The unexpired term was 56.65 years.