Experts for Leasehold Conveyancing in New Barnet

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New Barnet leasehold conveyancing: Q and A’s

I want to let out my leasehold apartment in New Barnet. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in New Barnet do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am hoping to complete next month on a basement flat in New Barnet. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • The physical extent of the property. This will be the flat itself but may include a roof space or cellar if applicable.
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in New Barnet please ask your lawyer in ahead of your conveyancing in New Barnet

    • I own a leasehold flat in New Barnet. Conveyancing and Yorkshire Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in New Barnet who previously acted has now retired.Any advice?

    The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a New Barnet conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Last month I purchased a leasehold property in New Barnet. Do I have any liability for 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 lessee 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).

    Can you provide any top tips for leasehold conveyancing in New Barnet with the aim of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in New Barnet can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
    • The majority landlords or Management Companies in New Barnet charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in New Barnet.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? New Barnet leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you fail to have the approvals to hand do not communicate with the landlord without checking with your conveyancer first.
  • A minority of New Barnet leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a New Barnet home move. If a new share certificate is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.

    • I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a New Barnet conveyancing firm to assist?

    You certainly can. We can put you in touch with a New Barnet conveyancing firm who can help.

    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 the number of years remaining on the existing lease(s) was 76 years.

    Other Topics

    Lease Extensions in New Barnet