Experts for Leasehold Conveyancing in Hornsey

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Hornsey, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Hornsey leasehold conveyancing

My husband and I may need to sub-let our Hornsey basement flat for a while due to a new job. We used a Hornsey conveyancing firm in 2003 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

A lease dictates the relationship between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Hornsey do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

Back In 2008, I bought a leasehold flat in Hornsey. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Hornsey who acted for me is not around.Any advice?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Hornsey conveyancing lawyer to do this as it can be done on-line for a few pound. 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 advice for leasehold conveyancing in Hornsey from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Hornsey can be bypassed where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
  • Many landlords or Management Companies in Hornsey charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Hornsey.
  • A minority of Hornsey leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Hornsey conveyancing deal. If a reissued share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • If all goes to plan we aim to complete the disposal of our £225000 apartment in Hornsey in just under a week. The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Hornsey?

    Hornsey conveyancing on leasehold apartments ordinarily involves fees being raised by freeholders :

    • Completing pre-exchange 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Hornsey leasehold premises 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 the information.

    I have given up negotiating a lease extension in Hornsey. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We are happy to put you in touch with a Hornsey conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Hornsey property 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 remaining number of years on the lease was 73.27 years.

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

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

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • 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. Halifax, Norwich and Peterborough Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Hornsey