I am on look out for some leasehold conveyancing in Norwood Green. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Norwood Green - 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 am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Norwood Green. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Norwood Green ?

The majority of houses in Norwood Green are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Norwood Green in which case you should be looking for a Norwood Green conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I am a negotiator for a long established estate agent office in Norwood Green where we have witnessed a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Norwood Green conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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 buyer.

All being well we will complete our sale of a £400000 garden flat in Norwood Green next Friday . The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Norwood Green?

Norwood Green conveyancing on leasehold flats usually involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to assist. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

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

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

An example of a Freehold Enfranchisement case for a Norwood Green premises is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case related to 2 flats. The the number of years remaining on the existing lease(s) was 72.39 years.

What makes a Norwood Green lease problematic?

There is nothing unique about leasehold conveyancing in Norwood Green. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Chelsea Building Society, and Barclays Direct 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 grant the mortgage, obliging the purchaser to withdraw.

Other Topics

Lease Extensions in Norwood Green