Fixed-fee leasehold conveyancing in Totteridge:

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Leasehold conveyancing in Totteridge is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Totteridge and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Totteridge leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Totteridge. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is registered - and almost all are in Totteridge - then the leasehold title will always include the short particulars 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.

I have just started marketing my garden apartment in Totteridge.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 management companies will not acknowledge the buyer until 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 am looking at a two maisonettes in Totteridge both have about forty five years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Totteridge. The lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold house in Totteridge. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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).

Can you provide any top tips for leasehold conveyancing in Totteridge with the purpose of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Totteridge can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Totteridge leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your solicitor in advance.
  • Some Totteridge 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 obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve 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 better to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I have had difficulty in trying to purchase the freehold in Totteridge. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most definitely. We can put you in touch with a Totteridge conveyancing firm who can help.

    An example of a Lease Extension case for a Totteridge premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the unexpired term as at the valuation date was 76 years.

    Other Topics

    Lease Extensions in Totteridge