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Recently asked questions relating to Hendon leasehold conveyancing

I am in need of some leasehold conveyancing in Hendon. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Hendon - then the leasehold title will always include the short particulars 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.

Estate agents have just been given the go-ahead to market my basement apartment in Hendon.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Back In 2008, I bought a leasehold house in Hendon. Conveyancing and Bank of Ireland mortgage are in place. 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 1997. The conveyancing solicitor in Hendon who acted for me is not around.Do I pay?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Hendon conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a busy estate agency in Hendon where we see a few flat sales jeopardised due to short leases. I have been given conflicting advice from local Hendon conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as 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 buyer 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 needs to be completed prior to, or simultaneously with 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 buyer.

I am the registered owner of a garden flat in Hendon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

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

An example of a Lease Extension decision for a Hendon residence 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 the number of years remaining on the existing lease(s) was 71 years.

What makes a Hendon lease unmortgageable?

Leasehold conveyancing in Hendon is not unique. All leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain parts of the premises
  • Insurance obligations
  • 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I bought a studio flat in Hendon, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Hendon with over 90 years remaining are worth £187,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2084

With just 58 years unexpired the likely cost is going to be between £23,800 and £27,400 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.