Experts for Leasehold Conveyancing in Newington

When it comes to leasehold conveyancing in Newington, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Santander, RBS or Nationwide make sure you find a lawyer on their panel. Find a Newington conveyancing lawyer with our search tool

Top Five Questions relating to Newington leasehold conveyancing

Having checked my lease I have discovered that there are only 72 years left on my lease in Newington. I am keen to get lease extension but my freeholder is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent would be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Newington.

Back In 2008, I bought a leasehold house in Newington. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Newington who previously acted has long since retired.What should I do?

First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Newington conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to choosing a Newington conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Newington conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Newington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • What are the legal fees for lease extension work?

  • Do you have any advice for leasehold conveyancing in Newington with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Newington can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers conveyancers.
    • The majority landlords or Management Companies in Newington levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Newington.
  • A minority of Newington 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 financially capable of paying 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 solicitors.
  • 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 nervous about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve 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 particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is under 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

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

    Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the amount due.

    An example of a Freehold Enfranchisement case for a Newington residence 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 unexpired residue of the current lease was 107 years.

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

    There is nothing unique about leasehold conveyancing in Newington. All leases are unique and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

    • 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

    You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Coventry Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Newington