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Questions and Answers: Highbury leasehold conveyancing

I have just started marketing my garden apartment in Highbury.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?

It best that you clear the service charge 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Highbury. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Highbury ?

The majority of houses in Highbury are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Highbury so you should seriously consider shopping around for a Highbury 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 leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

My wife and I purchased a leasehold house in Highbury. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Highbury who previously acted has long since retired.Do I pay?

First contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Highbury conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Highbury from the point of view of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Highbury can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
  • The majority landlords or Management Companies in Highbury levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Highbury.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Highbury leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such alterations. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer in the first instance.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and frustrates many a Highbury conveyancing deal. If a new share certificate is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. It is therefore important 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 property on the market for sale.

    • After years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Highbury. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the amount due.

    An example of a Lease Extension case for a Highbury premises is Lower Flat 16A Beatty Road in September 2012. The premium payable was £13,577. The terms of the lease has been agreed between the Applicants and the First Respondent and the Tribunal did not seek to disturb that agreement. This case related to 1 flat.

    Are there common defects that you see in leases for Highbury properties?

    Leasehold conveyancing in Highbury is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • 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

    You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Highbury