Experts for Leasehold Conveyancing in Islington

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Recently asked questions relating to Islington leasehold conveyancing

I have just appointed agents to market my 2 bed apartment in Islington.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you discharge 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 management companies 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 recently bought a leasehold house in Islington. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to choosing a Islington conveyancing firm to carry out our lease extension conveyancing?

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

  • How experienced is the firm with lease extension legislation?
  • What are the costs for lease extension conveyancing?

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

    • Much of the delay in leasehold conveyancing in Islington can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
    • Many freeholders or Management Companies in Islington charge for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Islington.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Islington leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you dont have the approvals in place you should not communicate with the landlord without contacting your solicitor before hand.
  • A minority of Islington leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 purchasers or their lawyers.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £500000 maisonette in Islington next week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Islington?

    Islington conveyancing on leasehold maisonettes often requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Islington. Can we issue an application to the Residential Property Tribunal Service?

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

    An example of a Lease Extension case for a Islington residence is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 80.5 years.

    Other Topics

    Lease Extensions in Islington