I wish to rent out my leasehold apartment in Highbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Some leases for properties in Highbury do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Expecting to complete next month on a basement flat in Highbury. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

• The physical extent of the premises. This will be the apartment itself but may include a loft or basement if applicable.

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Highbury. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Highbury ?

The majority of houses in Highbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Highbury so you should seriously consider looking for a Highbury conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I am attracted to a two flats in Highbury both have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As a lease gets shorter 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. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Highbury conveyancing firm to act on my behalf?

in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the price.

An example of a Lease Extension matter before the tribunal for a Highbury residence 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.

In relation to leasehold conveyancing in Highbury what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Highbury. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• 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

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions 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 pull out.

Other Topics

Lease Extensions in Highbury