Leasehold Conveyancing in Islington - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Islington, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Islington leasehold conveyancing

I would like to sublet my leasehold apartment in Islington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease governs relations between the landlord and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Islington do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I’m about to sell my 2 bed apartment in Islington.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay 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 unless 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 found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Islington. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Islington ?

Most houses in Islington are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Islington in which case you should be shopping around for a Islington conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

Do you have any advice for leasehold conveyancing in Islington with the purpose of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Islington can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Islington charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Islington.
  • Some Islington leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Organising a new share certificate can be a lengthy formality and frustrates many a Islington conveyancing deal. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

  • All being well we will complete the disposal of our £125000 flat in Islington in 8 days. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Islington?

    Islington conveyancing on leasehold maisonettes usually requires the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. 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 demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    I am the proprietor of a two-bedroom flat in Islington. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

    Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price payable.

    An example of a Lease Extension decision for a Islington property 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 was in relation to 1 flat. The the unexpired residue of the current lease was 80.5 years.

    Other Topics

    Lease Extensions in Islington