Recently asked questions relating to New Southgate leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in New Southgate. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and most are in New Southgate - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I would like to rent out my leasehold apartment in New Southgate. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in New Southgate do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Looking forward to exchange soon on a studio apartment in New Southgate. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in New Southgate should include some of the following:
- You should receive a copy of the lease
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in New Southgate. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in New Southgate are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in New Southgate in which case you should be shopping around for a New Southgate conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
Last month I purchased a leasehold flat in New Southgate. Do I have any liability for service charges for periods before my ownership?
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).
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a New Southgate conveyancing firm to help?
Most certainly. We are happy to put you in touch with a New Southgate conveyancing firm who can help.
An example of a Freehold Enfranchisement case 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 related to 2 flats. The the unexpired term as at the valuation date was 70.31 years.