I only have Fifty years left on my lease in Hornsey. I now want to get lease extension but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases a specialist would be useful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Hornsey.

Looking forward to sign contracts shortly on a basement flat in Hornsey. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

My wife and I purchased a leasehold flat in Hornsey. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Hornsey who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Hornsey conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agency in Hornsey where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Hornsey conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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 purchaser.

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hornsey conveyancing firm to act on my behalf?

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

An example of a Freehold Enfranchisement decision for a Hornsey residence is 7 Aubrey Road in December 2010. By an order of the county court on 15/12/2009 the freehold interest inthe Property known as 7 Aubrey Road London N8 9HH (the Property) and registered at HM Land Registry under title number MX439124 was vested in the applicants. The Tribunal calculated that the total enfranchisement premium, assessed in accordance with Schedule 6 to the Act, was £54,633. This case related to 3 flats. The the unexpired term as at the valuation date was 73.27 years.

When it comes to leasehold conveyancing in Hornsey what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Hornsey. All leases is drafted differently and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• 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 will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Barnsley Building Society, and Britannia all have express 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 provide security, forcing the buyer to pull out.

Other Topics

Lease Extensions in Hornsey