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Top Five Questions relating to Newington leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years left on my flat in Newington. I now wish to get lease extension but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. In some cases an enquiry agent would be helpful to try and locate and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Newington.

Looking forward to sign contracts shortly on a leasehold property in Newington. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Newington should include some of the following:

  • You should be sent a copy of the lease
  • Whether the lease restricts you from renting out the property, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Newington please ask your lawyer in advance of your conveyancing in Newington

    • I own a leasehold house in Newington. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Newington who acted for me is not around.What should I do?

    First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Newington conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Can you provide any top tips for leasehold conveyancing in Newington from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Newington can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Newington state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the approvals in place you should not contact the landlord without contacting your lawyer in advance.
  • A minority of Newington 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 put in hand 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 purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Arranging a new share certificate is often a time consuming formality and frustrates many a Newington conveyancing deal. If a new share certificate is required, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Newington conveyancing firm to assist?

    You certainly can. We are happy to put you in touch with a Newington conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Newington property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case affected 41 flats. The the number of years remaining on the existing lease(s) was 107 years.

    In relation to leasehold conveyancing in Newington what are the most frequent lease defects?

    Leasehold conveyancing in Newington is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Mortgage Works, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Newington