Fixed-fee leasehold conveyancing in Tottenham:

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Frequently asked questions relating to Tottenham leasehold conveyancing

I am on look out for some leasehold conveyancing in Tottenham. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Tottenham - 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.

Estate agents have just been given the go-ahead to market my basement flat in Tottenham.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear the invoice 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 managing agents will not acknowledge the buyer unless 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.

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Tottenham. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Tottenham are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Tottenham in which case you should be looking for a Tottenham conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I've recently bought a leasehold flat in Tottenham. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Tottenham with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Tottenham can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
  • Many landlords or managing agents in Tottenham levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Tottenham.
  • Some Tottenham leases require Licence to Assign from the landlord. If this applies to your lease, 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 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 purchasers or their solicitors.
  • If there is a history of conflict with your freeholder 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 nervous about purchasing a property where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I own a first flat in Tottenham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

    Where there is a missing freeholder or if there is dispute 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 premium.

    An example of a Freehold Enfranchisement decision for a Tottenham property is 30 Strode Road in June 2013. Following a vesting order by Edmonton County Court on 20th February 2013 the Tribunal arrived at a valuation for enfranchisement of £10,256 for the premises (£4,074 for the Ground Floor Flat and £6182 for the First Floor Flat) and £100 for the appurtenant land. This case affected 2 flats. The the unexpired term as at the valuation date was 83.33 and 77.3.

    Other Topics

    Lease Extensions in Tottenham