Fixed-fee leasehold conveyancing in Primrose Hill:

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When it comes to leasehold conveyancing in Primrose Hill, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or Nationwide make sure you choose a lawyer on their approved list. Feel free to use our search tool

Primrose Hill leasehold conveyancing Example Support Desk Enquiries

Planning to sign contracts shortly on a ground floor flat in Primrose Hill. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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
  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Are you allowed to have a pet in the flat?
  • Does the lease prevent you from subletting the property, or working from home
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions For details of the information to be contained in your report on your leasehold property in Primrose Hill please enquire of your conveyancer in ahead of your conveyancing in Primrose Hill

    • I am tempted by the attractive purchase price for a two flats in Primrose Hill both have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

    I am a negotiator for a reputable estate agency in Primrose Hill where we see a few flat sales put at risk due to short leases. I have received inconsistent advice from local Primrose Hill conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

    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 purchaser.

    What are your top tips when it comes to appointing a Primrose Hill conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Primrose Hill conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Primrose Hill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • How experienced is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Primrose Hill with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Primrose Hill can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Primrose Hill levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to 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 Primrose Hill.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Primrose Hill state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such changes. Should you dont have the approvals in place you should not contact the landlord without contacting your lawyer in the first instance.
  • Some Primrose Hill leases require Licence to Assign from the landlord. 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 should make it clear that the buyer is able to meet 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 lawyers.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the registered owner of a two-bedroom flat in Primrose Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

    Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the price.

    An example of a Lease Extension case for a Primrose Hill property 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 affected 1 flat. The the unexpired term as at the valuation date was 64.77 years.

    Other Topics

    Lease Extensions in Primrose Hill