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Top Five Questions relating to Potters Bar leasehold conveyancing

I am on look out for some leasehold conveyancing in Potters Bar. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Potters Bar - 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.

Expecting to complete next month on a basement flat in Potters Bar. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Potters Bar should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your legal entitlements in respect of the communal areas in the block.E.G., does the lease include a right of way over a path or hallways?
  • Are pets allowed in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Potters Bar please ask your conveyancer in advance of your conveyancing in Potters Bar

    • Estate agents have just been given the go-ahead to market my basement apartment in Potters Bar.Conveyancing has not commenced but I have just had a quarterly service charge invoice – Do I pay up?

    It best that you pay the service charge 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 hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Potters Bar. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

    Most houses in Potters Bar are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Potters Bar so you should seriously consider shopping around for a Potters Bar conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

    Back In 2007, I bought a leasehold house in Potters Bar. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Potters Bar who acted for me is not around.Any advice?

    The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Potters Bar conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Potters Bar. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to decide the price payable.

    An example of a Lease Extension case for a Potters Bar flat 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 was in relation to 1 flat. The the unexpired term as at the valuation date was 76 years.

    Other Topics

    Lease Extensions in Potters Bar