Fixed-fee leasehold conveyancing in Palmers Green:

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Examples of recent questions relating to leasehold conveyancing in Palmers Green

Planning to exchange soon on a basement flat in Palmers Green. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Palmers Green should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the property. This will be the property itself but may incorporate a roof space or cellar if appropriate.
  • Defining your rights in respect of common areas in the block.E.G., does the lease provide for a right of way over an accessway or hallways?
  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions For a comprehensive list of information to be contained in your report on your leasehold property in Palmers Green please ask your lawyer in ahead of your conveyancing in Palmers Green

  • I have just appointed agents to market my basement apartment in Palmers Green.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    What are your top tips when it comes to choosing a Palmers Green conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for your lease extension (regardless if they are a Palmers Green conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Palmers Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • Can they put you in touch with client in Palmers Green who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

  • Do you have any top tips for leasehold conveyancing in Palmers Green with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Palmers Green can be reduced where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
    • The majority freeholders or managing agents in Palmers Green levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Palmers Green.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Palmers Green leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such works. Where you fail to have the consents in place do not communicate with the landlord without contacting your solicitor first.
  • Some Palmers Green leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • Completion in due on our sale of a £225000 garden flat in Palmers Green on Wednesday in a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Palmers Green?

    Palmers Green conveyancing on leasehold flats more often than not requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They are at liberty charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Palmers Green conveyancing firm to assist?

    Most definitely. We are happy to put you in touch with a Palmers Green conveyancing firm who can help.

    An example of a Lease Extension decision for a Palmers Green flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 81.79 years.

    Other Topics

    Lease Extensions in Palmers Green