Fixed-fee leasehold conveyancing in New Barnet:

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Sample questions relating to New Barnet leasehold conveyancing

Estate agents have just been given the go-ahead to market my 2 bed apartment in New Barnet.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – Do I pay up?

The sensible thing to do is pay the invoice 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 am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in New Barnet. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in New Barnet are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in New Barnet in which case you should be looking for a New Barnet conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.

I am looking at a two maisonettes in New Barnet both have about fifty years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in New Barnet. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold house in New Barnet. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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 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).

What are your top tips when it comes to choosing a New Barnet conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a New Barnet conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non New Barnet conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • How many lease extensions have they completed in New Barnet in the last 12 months?

  • We have reached the end of our tether in seeking a lease extension in New Barnet. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Absolutely. We are happy to put you in touch with a New Barnet conveyancing firm who can help.

    An example of a Lease Extension decision for a New Barnet residence 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 the unexpired residue of the current lease was 76 years.

    Other Topics

    Lease Extensions in New Barnet