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Recently asked questions relating to Gospel Oak leasehold conveyancing

Planning to complete next month on a garden flat in Gospel Oak. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Gospel Oak should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • You should be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Gospel Oak please enquire of your lawyer in advance of your conveyancing in Gospel Oak

    • My wife and I purchased a leasehold flat in Gospel Oak. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Gospel Oak who acted for me is not around.Any advice?

    First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Gospel Oak conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am a negotiator for a busy estate agent office in Gospel Oak where we see a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Gospel Oak conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder 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 Gospel Oak conveyancing practice to deal with our lease extension?

    When appointing a conveyancer for your lease extension (regardless if they are a Gospel Oak conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Gospel Oak conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

    • How experienced is the practice with lease extension legislation?
  • How many lease extensions have they conducted in Gospel Oak in the last twenty four months?

    • I own a first floor flat in Gospel Oak. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?

    Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the premium.

    An example of a Lease Extension case for a Gospel Oak premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 64.77 years.

    Are there frequently found deficiencies that you see in leases for Gospel Oak properties?

    Leasehold conveyancing in Gospel Oak is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Gospel Oak