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

Get a Quote

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

Top Five Questions relating to Frognal leasehold conveyancing

Expecting to exchange soon on a leasehold property in Frognal. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Frognal should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • The physical extent of the premises. This will be the apartment itself but may incorporate a roof space or basement if applicable.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • You should be told what constitutes a Nuisance in the lease
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • 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 For details of the information to be contained in your report on your leasehold property in Frognal please ask your lawyer in ahead of your conveyancing in Frognal

    • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Frognal. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Frognal ?

    The majority of houses in Frognal are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Frognal so you should seriously consider looking for a Frognal conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee 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 changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

    I am attracted to a two maisonettes in Frognal which have approximately 50 years left on the lease term. Do I need to be concerned?

    There are no two ways about it. A leasehold flat in Frognal is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Frognal conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Can you offer any advice when it comes to finding a Frognal conveyancing firm to carry out our lease extension conveyancing?

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

    • How many lease extensions has the firm completed in Frognal in the last twenty four months?
  • Can they put you in touch with client in Frognal who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Frognal from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Frognal can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
    • The majority freeholders or managing agents in Frognal levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Frognal.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Frognal leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such works. Should you fail to have the approvals in place you should not contact the landlord without contacting your conveyancer first.
  • Some Frognal 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 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 buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Frognal home move. If a new share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Frognal. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases 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 judgment on the price payable.

    An example of a Lease Extension decision for a Frognal property 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 affected 2 flats. The unexpired lease term was 16.83 and 16.43.