Fixed-fee leasehold conveyancing in Pentonville:

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Common questions relating to Pentonville leasehold conveyancing

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Pentonville. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Pentonville ?

Most houses in Pentonville are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Pentonville so you should seriously consider shopping around for a Pentonville conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should report to you on the legal implications.

My wife and I purchased a leasehold flat in Pentonville. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Pentonville who acted for me is not around.What should I do?

First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Pentonville conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you offer any advice when it comes to finding a Pentonville conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Pentonville conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Pentonville conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • Can they put you in touch with client in Pentonville who can give a testimonial?
  • What are the charges for lease extension work?

  • Can you provide any advice for leasehold conveyancing in Pentonville with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Pentonville can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Pentonville levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for 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 frequent reason for delay in leasehold conveyancing in Pentonville.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Pentonville leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you dont have the consents in place do not communicate with the landlord without contacting your conveyancer in advance.
  • A minority of Pentonville 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 bank and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. 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 below 75 years. It is therefore essential at an early stage 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.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450000 garden flat in Pentonville next Tuesday . The freeholder has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Pentonville?

    Pentonville conveyancing on leasehold apartments usually results in fees being invoiced by managing agents :

    • Addressing pre-exchange enquiries
    • Where consent is required before sale in Pentonville
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Pentonville leasehold premises is £350. For Pentonville conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

    I am the leaseholder of a ground-floor 1950’s flat in Pentonville. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?

    if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to determine the amount due.

    An example of a Lease Extension matter before the tribunal for a Pentonville property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The remaining number of years on the lease was 66.8 years.

    Other Topics

    Lease Extensions in Pentonville