Fixed-fee leasehold conveyancing in Ponders End:

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Frequently asked questions relating to Ponders End leasehold conveyancing

I would like to let out my leasehold apartment in Ponders End. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Ponders End do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Ponders End. I am keen to get lease extension but my landlord is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the lessor. For most situations an enquiry agent should be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Ponders End.

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Ponders End. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Ponders End ?

Most houses in Ponders End are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Ponders End in which case you should be shopping around for a Ponders End conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I've recently bought a leasehold house in Ponders End. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Ponders End from the point of view of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Ponders End can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
  • The majority freeholders or Management Companies in Ponders End levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Ponders End.
  • A minority of Ponders End leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Arranging a re-issued share certificate is often a lengthy process and slows down many a Ponders End conveyancing deal. Where a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Ponders End. Can we issue an application to the Residential Property Tribunal Service?

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

    An example of a Vesting Order and Purchase of freehold case for a Ponders End premises is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The unexpired lease term was 80.01 years.

    Other Topics

    Lease Extensions in Ponders End