Frequently asked questions relating to Pentonville leasehold conveyancing
I have recently realised that I have 72 years remaining on my flat in Pentonville. I now wish to extend my lease but my freeholder is absent. 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. In some cases an enquiry agent may be useful to try and locate and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Pentonville.
I am hoping to exchange soon on a studio apartment in Pentonville. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Pentonville should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- The physical extent of the premises. This will be the property itself but could also include a roof space or cellar if applicable.
- Does the lease prohibit wood flooring?
- Will you be prohibited or prevented from having pets in the property?
- Does the lease prevent you from renting out the flat, or working from home
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
- Responsibility for repairing the window frames
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Pentonville. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Pentonville are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Pentonville in which case you should be shopping around for a Pentonville conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
My wife and I purchased a leasehold house in Pentonville. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Pentonville who previously acted has now retired.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. You do not need to instruct a Pentonville conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to finding a Pentonville conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Pentonville conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Pentonville conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If the firm is not ALEP accredited then what is the reason?
- Can they put you in touch with client in Pentonville who can give a testimonial?
I own a garden flat in Pentonville. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
if there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to arrive at the sum to be paid.
An example of a Lease Extension decision for a Pentonville flat 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 was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 66.8 years.
I am the registered owner of a garden flat in Pentonville, conveyancing formalities finalised in 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Pentonville with over 90 years remaining are worth £248,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2105
With only 79 years remaining on your lease the likely cost is going to range between £12,400 and £14,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.