Having had my offer accepted I require leasehold conveyancing in Upper Holloway. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Upper Holloway - 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.

I have recently realised that I have 68 years remaining on my lease in Upper Holloway. I now want to extend my lease but my freeholder is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. On the whole an enquiry agent may be useful to try and locate and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Upper Holloway.

I own a leasehold house in Upper Holloway. Conveyancing and Coventry Building Society mortgage are in place. 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 1993. The conveyancing practitioner in Upper Holloway who previously acted has long since retired.Any advice?

First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Upper Holloway conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to finding a Upper Holloway conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Upper Holloway conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Upper Holloway conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the practice with lease extension legislation?

What makes a Upper Holloway lease unmortgageable?

Leasehold conveyancing in Upper Holloway is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

Upper Holloway Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

How is the lease structured? How many of the leaseholders are in arrears for their maintenance charge payments? The prefered form of lease structure is a share of the freehold. In this situation the lessees have being in charge if their destiny and although a managing agent is usually employed where the building is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Upper Holloway