Fixed-fee leasehold conveyancing in Finchley:

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Top Five Questions relating to Finchley leasehold conveyancing

I would like to let out my leasehold apartment in Finchley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Finchley conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of prior permission. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Finchley. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

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 help the conveyancing process. It is clear that you are purchasing in Finchley in which case you should be shopping around for a Finchley conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free 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 contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

What advice can you give us when it comes to finding a Finchley conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Finchley conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Finchley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • Can they put you in touch with client in Finchley who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Finchley with the aim of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Finchley can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
    • The majority landlords or managing agents in Finchley charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Finchley.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Finchley state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you fail to have the paperwork to hand you should not contact the landlord without contacting your solicitor in advance.
  • Some Finchley leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may have to bite the bullet 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.

    • We expect to complete the sale of our £250000 maisonette in Finchley next week. The freeholder has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Finchley?

    Finchley conveyancing on leasehold flats normally involves the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.

    I have had difficulty in seeking a lease extension in Finchley. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the premium.

    An example of a Lease Extension decision 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 related to 1 flat. The the unexpired residue of the current lease was 56.65 years.

    Other Topics

    Lease Extensions in Finchley