Fixed-fee leasehold conveyancing in Southgate:

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Southgate leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Southgate. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Southgate - then the leasehold title will always include the short particulars 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.

Expecting to complete next month on a basement flat in Southgate. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Southgate should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Does the lease prevent you from renting out the property, or working from home
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Southgate please enquire of your solicitor in ahead of your conveyancing in Southgate

  • I have just appointed agents to market my ground floor flat in Southgate.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?

    It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    Do you have any advice for leasehold conveyancing in Southgate with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Southgate can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Southgate levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Southgate.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Southgate state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you dont have the paperwork to hand do not communicate with the landlord without contacting your conveyancer in advance.
  • A minority of Southgate leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge 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 new share certificate is often a lengthy formality and delays many a Southgate conveyancing deal. If a reissued share certificate is necessary, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.

  • Completion in due on our sale of a £275000 garden flat in Southgate next Wednesday . The management company has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Southgate?

    For the majority of leasehold sales in Southgate conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing pre-exchange questions
    • Where consent is required before sale in Southgate
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Southgate leasehold property is £350. For Southgate conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

    I am the leaseholder of a basement flat in Southgate. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

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

    An example of a Freehold Enfranchisement decision for a Southgate flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired lease term was 70.31 years.

    Other Topics

    Lease Extensions in Southgate