Leasehold Conveyancing in New Barnet - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in New Barnet, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or NatWest be sure to find a lawyer on their approved list. Find a New Barnet conveyancing lawyer with our search tool

Common questions relating to New Barnet leasehold conveyancing

I have just appointed agents to market my 2 bed flat in New Barnet.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – what should I do?

It best that you 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold flat in New Barnet. Conveyancing and Barnsley Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in New Barnet who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a New Barnet conveyancing solicitor 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.

I am looking at a couple of maisonettes in New Barnet which have in the region of 50 years left on the leases. should I be concerned?

A lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. This is why 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 lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

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

If you are instructing a solicitor for lease extension works (regardless if they are a New Barnet conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non New Barnet conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If the firm is not ALEP accredited then what is the reason?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in New Barnet from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in New Barnet can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
    • A minority of New Barnet leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Obtaining a duplicate share certificate is often a lengthy process and slows down many a New Barnet home move. If a new share is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in New Barnet. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.

    An example of a Lease Extension case 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 was in relation to 1 flat. The unexpired lease term was 76 years.

    Other Topics

    Lease Extensions in New Barnet