I own a leasehold flat in Stoke Newington. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Stoke Newington who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Stoke Newington conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What advice can you give us when it comes to appointing a Stoke Newington conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Stoke Newington conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Stoke Newington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?

How many lease extensions has the firm carried out in Stoke Newington in the last year?

Do you have any top tips for leasehold conveyancing in Stoke Newington with the purpose of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Stoke Newington can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
• The majority freeholders or Management Companies in Stoke Newington levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to 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 typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Stoke Newington.

In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Stoke Newington state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such works. Where you dont have the consents to hand do not communicate with the landlord without contacting your conveyancer in advance.

If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing.

If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Arranging a replacement share certificate can be a lengthy process and frustrates many a Stoke Newington conveyancing transaction. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

Completion in due on our sale of a £500000 flat in Stoke Newington in just under a week. The freeholder has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Stoke Newington?

For the majority of leasehold sales in Stoke Newington 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 conveyancing due diligence enquiries
• Where consent is required before sale in Stoke Newington
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Stoke Newington leasehold property is £350. For Stoke Newington 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 required to provide answers.

I inherited a a ground floor purpose built flat in Stoke Newington. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?

if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to assess the sum to be paid.

An example of a Lease Extension case for a Stoke Newington flat is Lower Flat 16A Beatty Road in September 2012. The premium payable was £13,577. The terms of the lease has been agreed between the Applicants and the First Respondent and the Tribunal did not seek to disturb that agreement. This case affected 1 flat.

In relation to leasehold conveyancing in Stoke Newington what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Stoke Newington. All leases is drafted differently and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Clydesdale 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 defective they may refuse to provide security, forcing the buyer to withdraw.

Other Topics

Lease Extensions in Stoke Newington