Experts for Leasehold Conveyancing in Tottenham Green

Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Tottenham Green, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Tottenham Green leasehold conveyancing

Planning to complete next month on a studio apartment in Tottenham Green. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Defining your legal entitlements in relation to common areas in the building.By way of example, does the lease include a right of way over a path or staircase?
  • Does the lease prohibit wood flooring?
  • Whether your lease has a provision for a reserve fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Tottenham Green please enquire of your lawyer in advance of your conveyancing in Tottenham Green

  • Last month I purchased a leasehold flat in Tottenham Green. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    In a situation 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

    Do you have any advice for leasehold conveyancing in Tottenham Green from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Tottenham Green can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
    • A minority of Tottenham Green leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Arranging a new share certificate is often a time consuming process and frustrates many a Tottenham Green conveyancing deal. Where a reissued share is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on our sale of a £200000 apartment in Tottenham Green next week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Tottenham Green?

    Tottenham Green conveyancing on leasehold maisonettes often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.

    I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Tottenham Green conveyancing firm to assist?

    Most definitely. We are happy to put you in touch with a Tottenham Green conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Tottenham Green residence is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case related to 2 flats. The the number of years remaining on the existing lease(s) was 74.13 years.

    What makes a Tottenham Green lease unacceptable for security purposes?

    Leasehold conveyancing in Tottenham Green is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and Britannia all have express requirements 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, obliging the purchaser to withdraw.