Guaranteed fixed fees for Leasehold Conveyancing in New Barnet

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While any conveyancing practice can theoretically handle your leasehold conveyancing in New Barnet, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in New Barnet

Having had my offer accepted I require leasehold conveyancing in New Barnet. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and almost all are in New Barnet - 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.

Due to sign contracts shortly on a ground floor flat in New Barnet. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in New Barnet should include some of the following:

  • The total extent of the property. This will be the property itself but might incorporate a loft or cellar if appropriate.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be contained in your report on your leasehold property in New Barnet please ask your lawyer in advance of your conveyancing in New Barnet

    • Last month I purchased a leasehold house in New Barnet. Do I have any liability for service charges for periods before completion of my purchase?

    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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

    I work for a busy estate agency in New Barnet where we have witnessed a number of leasehold sales put at risk due to short leases. I have received inconsistent advice from local New Barnet conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Can you offer any advice when it comes to appointing a New Barnet conveyancing practice to deal with our lease extension?

    When appointing a solicitor for your lease extension (regardless if they are a New Barnet conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non New Barnet conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • If the firm is not ALEP accredited then why not?
  • How many lease extensions has the firm carried out in New Barnet in the last year?

    • I own a first flat in New Barnet. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

    if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price.

    An example of a Lease Extension matter before the tribunal for a New Barnet flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The unexpired term was 76 years.

    Other Topics

    Lease Extensions in New Barnet