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

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Examples of recent questions relating to leasehold conveyancing in New Southgate

Due to complete next month on a ground floor flat in New Southgate. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Defining your rights in respect of the communal areas in the building.By way of example, does the lease permit a right of way over an accessway or hallways?
  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in New Southgate please enquire of your solicitor in ahead of your conveyancing in New Southgate

    • I own a leasehold flat in New Southgate. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received 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 Southgate who acted for me is not around.Any advice?

    The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a New Southgate conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

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

    When appointing a property lawyer for your lease extension (regardless if they are a New Southgate conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non New Southgate conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

    • If they are not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension work?

    • Do you have any top tips for leasehold conveyancing in New Southgate with the purpose of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in New Southgate can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in New Southgate levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in New Southgate.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in New Southgate state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such alterations. If you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer in advance.
  • Some New Southgate leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 present the dispute as over as opposed to unresolved.

    • Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in New Southgate. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.

    An example of a Freehold Enfranchisement matter before the tribunal for a New Southgate property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the unexpired term as at the valuation date was 70.31 years.

    When it comes to leasehold conveyancing in New Southgate what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in New Southgate. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Mortgage Works, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in New Southgate