Fixed-fee leasehold conveyancing in Harringay:

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Leasehold conveyancing in Harringay is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Harringay and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Harringay leasehold conveyancing

I am in need of some leasehold conveyancing in Harringay. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Harringay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am looking at a couple of apartments in Harringay which have about 50 years unexpired on the leases. Do I need to be concerned?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Harringay with the aim of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Harringay can be avoided where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Harringay leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such works. Where you dont have the approvals to hand you should not contact the landlord without contacting your conveyancer before hand.
  • A minority of Harringay 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 obtain bank and professional references. The 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. 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 details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a time consuming process and frustrates many a Harringay conveyancing deal. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • We expect to complete our sale of a £475000 apartment in Harringay in six days. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Harringay?

    Harringay conveyancing on leasehold maisonettes often requires the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are at liberty charge a reasonable administration fee for responding to questions 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 is above £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is demanded should you wish to sell the property.

    I have had difficulty in negotiating a lease extension in Harringay. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most definitely. We can put you in touch with a Harringay conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Harringay property is 37 St. Margarets Avenue in January 2010. Following a vesting order by Edmonton County Court on 8th November 2008 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £20,543 This case was in relation to 2 flats. The unexpired lease term was 74.75 years.

    What makes a Harringay lease unacceptable for security purposes?

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

    • A provision to repair to or maintain elements of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may 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. Santander, Bank of Scotland, and Britannia all have very detailed 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, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Harringay