Fixed-fee leasehold conveyancing in New Barnet:

Leasehold conveyancing in New Barnet is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in New Barnet and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to New Barnet leasehold conveyancing

Estate agents have just been given the go-ahead to market my ground floor apartment in New Barnet.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

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 managing agents 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. This will smooth the conveyancing process.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in New Barnet. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in New Barnet ?

The majority of houses in New Barnet are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in New Barnet in which case you should be shopping around for a New Barnet conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in New Barnet both have in the region of fifty years remaining on the lease term. Do I need to be concerned?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in New Barnet from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in New Barnet can be bypassed where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
  • The majority landlords or managing agents in New Barnet levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in New Barnet.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? New Barnet leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the paperwork to hand you should not communicate with the landlord without contacting your solicitor in advance.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Organising a re-issued share certificate can be a time consuming formality and frustrates many a New Barnet conveyancing deal. Where a new share is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on the disposal of our £225000 flat in New Barnet on Wednesday in a week. The management company has quoted £408 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in New Barnet?

    New Barnet conveyancing on leasehold maisonettes usually results in administration charges raised by freeholders :

    • Answering pre-contract enquiries
    • Where consent is required before sale in New Barnet
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for New Barnet leasehold property is £350. For New Barnet 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 obliged to supply the information.

    I have given up trying to purchase the freehold in New Barnet. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the amount due.

    An example of a Lease Extension decision for a New Barnet premises 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 lease term was 76 years.

    Other Topics

    Lease Extensions in New Barnet