Quality lawyers for Leasehold Conveyancing in Stamford Hill

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Having had my offer accepted I require leasehold conveyancing in Stamford Hill. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Stamford 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.

There are only Sixty One years remaining on my lease in Stamford Hill. I now want to extend my lease but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the freeholder. In some cases an enquiry agent may be useful to carry out a search and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Stamford Hill.

I own a leasehold house in Stamford Hill. Conveyancing and Barclays mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Stamford Hill who acted for me is not around.Any advice?

First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Stamford Hill conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Stamford Hill from the perspective of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Stamford Hill can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers representatives.
  • The majority landlords or managing agents in Stamford Hill levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought 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 frustration in leasehold conveyancing in Stamford Hill.
  • A minority of Stamford Hill leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (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 lawyers.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle 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 purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a replacement share certificate is often a lengthy process and delays many a Stamford Hill home move. Where a reissued share certificate is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

  • I am the registered owner of a garden flat in Stamford Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

    You certainly can. We are happy to put you in touch with a Stamford Hill conveyancing firm who can help.

    An example of a Lease Extension decision for a Stamford Hill premises is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 59 years.

    In relation to leasehold conveyancing in Stamford Hill what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Stamford Hill. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Stamford Hill