Leasehold Conveyancing in Tufnell Park - Get a Quote from the leasehold experts approved by your lender

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Tufnell Park leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Tufnell Park. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Tufnell Park - 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.

Last month I purchased a leasehold flat in Tufnell Park. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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).

What are your top tips when it comes to choosing a Tufnell Park conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Tufnell Park conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Tufnell Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How many lease extensions have they completed in Tufnell Park in the last 12 months?
  • What are the legal fees for lease extension conveyancing?

  • Do you have any advice for leasehold conveyancing in Tufnell Park from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Tufnell Park can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Tufnell Park leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you dont have the paperwork to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • Some Tufnell Park leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 buyers or their lawyers.
  • 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 purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on our sale of a £425000 maisonette in Tufnell Park next week. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Tufnell Park?

    Tufnell Park conveyancing on leasehold flats usually necessitates fees being invoiced by landlords agents :

    • Addressing pre-contract enquiries
    • Where consent is required before sale in Tufnell Park
    • 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 Tufnell Park leasehold premises 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 the information.

    I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Tufnell Park conveyancing firm to assist?

    Most certainly. We are happy to put you in touch with a Tufnell Park conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal 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 related to 1 flat. The the unexpired term as at the valuation date was 64.77 years.

    Other Topics

    Lease Extensions in Tufnell Park