Experts for Leasehold Conveyancing in Tufnell Park

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

Sample questions relating to Tufnell Park leasehold conveyancing

I am intending to rent out my leasehold flat in Tufnell Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Tufnell Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Estate agents have just been given the go-ahead to market my basement flat in Tufnell Park.Conveyancing is yet to be initiated but I have just had a half-yearly service 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 am employed by a busy estate agency in Tufnell Park where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Tufnell Park conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you offer any advice when it comes to finding a Tufnell Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Tufnell Park conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Tufnell Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm completed in Tufnell Park in the last twenty four months?

If all goes to plan we aim to complete our sale of a £ 475000 garden flat in Tufnell Park in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Tufnell Park?

For most leasehold sales in Tufnell Park conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Answering pre-exchange enquiries
  • Where consent is required before sale in Tufnell Park
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Tufnell Park leasehold property is £350. For Tufnell Park 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 obliged to supply answers.

I am the proprietor of a basement flat in Tufnell Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

Where there is a missing landlord 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 make a decision on the amount due.

An example of a Lease Extension decision for a Tufnell Park flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The unexpired term was 64.77 years.

I invested in buying a studio flat in Tufnell Park, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Tufnell Park with over 90 years remaining are worth £177,000. The average or mid-range amount of ground rent is £60 yearly. The lease comes to an end on 21st October 2087

You have 61 years remaining on your lease we estimate the premium for your lease extension to span between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.