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

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When it comes to leasehold conveyancing in Frognal, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Nationwide be sure to choose a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Frognal

I own a leasehold house in Frognal. Conveyancing and Nationwide Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Frognal who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Frognal conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a long established estate agency in Frognal where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Frognal conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What advice can you give us when it comes to appointing a Frognal conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Frognal conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Frognal conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • If the firm is not ALEP accredited then why not?
  • How many lease extensions has the firm carried out in Frognal in the last year?

    • Do you have any advice for leasehold conveyancing in Frognal from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Frognal can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Frognal state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you fail to have the consents in place you should not communicate with the landlord without checking with your lawyer first.
  • Some Frognal leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain 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 buyers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the proprietor of a ground-floor 1950’s flat in Frognal. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?

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

    An example of a Lease Extension case for a Frognal residence is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case related to 2 flats. The remaining number of years on the lease was 16.83 and 16.43.

    What makes a Frognal lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Frognal. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Virgin Money, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.