Common questions relating to Mill Hill leasehold conveyancing
I am in need of some leasehold conveyancing in Mill Hill. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Mill Hill - then the leasehold title will always include the basic details 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.
There are only Seventy years left on my lease in Mill Hill. I am keen to extend my lease but my landlord is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent would be helpful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Mill Hill.
Back In 2007, I bought a leasehold house in Mill Hill. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Mill Hill who previously acted has now retired.Any advice?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Mill Hill conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold property in Mill Hill. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Can you provide any advice for leasehold conveyancing in Mill Hill from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Mill Hill can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Mill Hill leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. Should you dont have the approvals to hand do not contact the landlord without contacting your conveyancer first.
- Some Mill Hill leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 buyers or their solicitors.
- If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy process and frustrates many a Mill Hill conveyancing transaction. Where a new share is required, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
- You believe that you know the number of years left on your lease but you should verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Mill Hill conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Mill Hill conveyancing firm who can help.
An example of a Lease Extension case for a Mill Hill residence is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 71.73 years.
I purchased a leasehold flat in Mill Hill, conveyancing formalities finalised in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Mill Hill with a long lease are worth £211,000. The average or mid-range amount of ground rent is £60 per annum. The lease runs out on 21st October 2101
With 75 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.