I am on look out for some leasehold conveyancing in Hornsey. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Hornsey - 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.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Hornsey. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Hornsey are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Hornsey so you should seriously consider shopping around for a Hornsey conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.

Can you offer any advice when it comes to finding a Hornsey conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Hornsey conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Hornsey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?
• What are the charges for lease extension work?

Can you provide any top tips for leasehold conveyancing in Hornsey from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Hornsey can be bypassed if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
• Many landlords or managing agents in Hornsey levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Hornsey.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Hornsey state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you dont have the approvals in place do not contact the landlord without checking with your lawyer before hand.
• If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay 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 better to reveal the dispute as historic rather than unresolved.
• If you hold a share in a the Management Company, you should make sure that you hold the original share document. Arranging a new share certificate is often a lengthy formality and slows down many a Hornsey home move. Where a duplicate share is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

Completion in due on the disposal of our £ 200000 flat in Hornsey in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Hornsey?

For the majority of leasehold sales in Hornsey conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract enquiries
• Where consent is required before sale in Hornsey
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Hornsey leasehold property is £350. For Hornsey conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I have given up trying to purchase the freehold in Hornsey. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the premium.

An example of a Freehold Enfranchisement matter before the tribunal for a Hornsey flat 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 was in relation to 3 flats. The unexpired term was 73.27 years.

Leasehold Conveyancing in Hornsey - Sample of Queries Prior to Purchasing

Plenty Hornsey leasehold properties will be liable to pay a service bill for maintenance of the block set on behalf of the landlord. Should you acquire the property you will have to meet this liability, usually periodically during the year. This can be anything from a few hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge to be met annual, this is usually not a significant amount, say approximately £50-£100 but you need to enquire it because occasionally it could be many hundreds of pounds. If a Hornsey lease has less than 80 years it will affect the salability of the property. Check with your bank that they are content with residual term of the lease. A short lease means that you will most likely need a lease extension at some point and it is worth finding out what this will be. For most Hornseylease extensions you will need to own the premises for two years in order to be entitled to exercise a lease extension.