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Sample questions relating to Newington leasehold conveyancing

I am in need of some leasehold conveyancing in Newington. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Newington - 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 own a leasehold flat in Newington. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Newington who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Newington conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a long established estate agent office in Newington where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Newington conveyancing firms. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to finding a Newington conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Newington conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Newington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • If they are not ALEP accredited then why not?
  • What are the costs for lease extension work?

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275000 flat in Newington on Wednesday in a week. The managing agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Newington?

    Newington conveyancing on leasehold apartments usually requires the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you if you want to complete the sale of your home.

    I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Newington conveyancing firm to assist?

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

    An example of a Freehold Enfranchisement matter before the tribunal 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 unexpired lease term was 107 years.

    Other Topics

    Lease Extensions in Newington