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

Get a Quote

While any conveyancing practice can theoretically deal with your leasehold conveyancing in Finsbury Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Finsbury Park leasehold conveyancing

Frank (my husband) and I may need to let out our Finsbury Park ground floor flat for a while due to taking a sabbatical. We instructed a Finsbury Park conveyancing firm in 2002 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease dictates relations between the landlord and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Finsbury Park do not prevent subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Finsbury Park. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Finsbury Park ?

Most houses in Finsbury Park are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Finsbury Park so you should seriously consider looking for a Finsbury Park conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

I've recently bought a leasehold property in Finsbury Park. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Can you offer any advice when it comes to choosing a Finsbury Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Finsbury Park conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Finsbury Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Can you provide any top tips for leasehold conveyancing in Finsbury Park from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Finsbury Park can be bypassed if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Finsbury Park leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such works. Should you fail to have the consents to hand you should not communicate with the landlord without contacting your conveyancer in the first instance.
  • Some Finsbury Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Arranging a replacement share certificate is often a lengthy process and slows down many a Finsbury Park conveyancing transaction. If a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Finsbury Park conveyancing firm to represent me?

    Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.

    An example of a Freehold Enfranchisement matter before the tribunal for a Finsbury Park residence is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The unexpired term was 71 years.

    Other Topics

    Lease Extensions in Finsbury Park