Leasehold Conveyancing in Primrose Hill - Get a Quote from the leasehold experts approved by your lender

Looking for a solicitor for leasehold conveyancing in Primrose Hill on your lender’s panel? Make use of our search tool to find approved local Primrose Hill conveyancing lawyers or national solicitors on your lender’s panel .

Common questions relating to Primrose Hill leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Primrose Hill. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and most are in Primrose Hill - 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.

Planning to complete next month on a garden flat in Primrose Hill. Conveyancing solicitors inform 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 Primrose Hill 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
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Changes to the flat (alterations and additions)
  • 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
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Primrose Hill please ask your lawyer in ahead of your conveyancing in Primrose Hill

  • I work for a reputable estate agent office in Primrose Hill where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Primrose Hill conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

    Provided that 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. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder 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.

    Can you provide any top tips for leasehold conveyancing in Primrose Hill from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Primrose Hill can be avoided where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers lawyers.
    • Many freeholders or managing agents in Primrose Hill levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Primrose Hill.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Primrose Hill leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the paperwork in place do not contact the landlord without checking with your lawyer before hand.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if 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 requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Primrose Hill. Can we issue an application to the Residential Property Tribunal Service?

    Absolutely. We can put you in touch with a Primrose Hill conveyancing firm who can help.

    An example of a Lease Extension decision for a Primrose Hill premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 64.77 years.

    What are the frequently found problems that you encounter in leases for Primrose Hill properties?

    There is nothing unique about leasehold conveyancing in Primrose Hill. All leases are individual and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Primrose Hill