Guaranteed fixed fees for Leasehold Conveyancing in Southgate

Get a Quote

While any conveyancing practice can theoretically handle your leasehold conveyancing in Southgate, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Southgate leasehold conveyancing

I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Southgate. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Southgate are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Southgate so you should seriously consider shopping around for a Southgate conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.

Back In 2006, I bought a leasehold house in Southgate. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Southgate who previously acted has long since retired.What should I do?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Southgate conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Southgate which have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Southgate. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

What advice can you give us when it comes to finding a Southgate conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Southgate conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Southgate conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • How experienced is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Southgate with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Southgate can be bypassed where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
    • Many landlords or Management Companies in Southgate charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Southgate.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Southgate state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such changes. Should you dont have the paperwork to hand you should not communicate with the landlord without checking with your conveyancer before hand.
  • A minority of Southgate leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to 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 financially capable of paying the annual 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.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I have given up trying to purchase the freehold in Southgate. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the amount due.

    An example of a Freehold Enfranchisement decision for a Southgate residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The the unexpired term as at the valuation date was 70.31 years.

    Other Topics

    Lease Extensions in Southgate