Leasehold Conveyancing in Seven Sisters - Get a Quote from the leasehold experts approved by your lender

Get a Quote

Leasehold conveyancing in Seven Sisters is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Seven Sisters and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Seven Sisters leasehold conveyancing

I would like to sublet my leasehold flat in Seven Sisters. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Seven Sisters do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Seven Sisters. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Seven Sisters are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Seven Sisters so you should seriously consider shopping around for a Seven Sisters conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.

I am looking at a two flats in Seven Sisters both have about 50 years left on the leases. Do I need to be concerned?

There are plenty of short leases in Seven Sisters. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in Seven Sisters from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Seven Sisters can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers conveyancers.
  • The majority freeholders or managing agents in Seven Sisters charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Seven Sisters.
  • A minority of Seven Sisters leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • 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 solicitors. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the leaseholder of a ground floor flat in Seven Sisters. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

    in cases 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 determine the sum to be paid.

    An example of a Freehold Enfranchisement decision for a Seven Sisters premises is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case related to 2 flats. The unexpired term was 74.13 years.

    What makes a Seven Sisters lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Seven Sisters. Most leases is drafted differently and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Skipton Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Seven Sisters