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Top Five Questions relating to Hendon leasehold conveyancing

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Hendon. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Hendon are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Hendon so you should seriously consider looking for a Hendon conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.

I am attracted to a couple of apartments in Hendon which have about 50 years unexpired on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to choosing a Hendon conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Hendon conveyancing firm) it is most important 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 Hendon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

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

    • Do you have any top tips for leasehold conveyancing in Hendon with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Hendon can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Hendon state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you dont have the consents to hand you should not communicate with the landlord without contacting your solicitor before hand.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Organising a replacement share certificate can be a lengthy formality and frustrates many a Hendon conveyancing deal. If a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • We expect to complete the disposal of our £400000 flat in Hendon in 10 days. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Hendon?

    Hendon conveyancing on leasehold apartments usually requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I am the leaseholder of a basement flat in Hendon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    Absolutely. We can put you in touch with a Hendon conveyancing firm who can help.

    An example of a Lease Extension case for a Hendon flat is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case was in relation to 1 flat. The unexpired term was 71 years.

    Other Topics

    Lease Extensions in Hendon