Fixed-fee leasehold conveyancing in Kingsland:

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Frequently asked questions relating to Kingsland leasehold conveyancing

Expecting to complete next month on a studio apartment in Kingsland. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • You should be told what counts as a Nuisance in the lease
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Kingsland please ask your lawyer in advance of your conveyancing in Kingsland

    • Back In 2000, I bought a leasehold house in Kingsland. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Kingsland who previously acted has long since retired.Any advice?

    The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Kingsland conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am tempted by the attractive purchase price for a couple of flats in Kingsland which have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold flat in Kingsland is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kingsland conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    What advice can you give us when it comes to finding a Kingsland conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Kingsland conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Kingsland conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • If they are not ALEP accredited then why not?
  • What volume of lease extensions has the firm carried out in Kingsland in the last year?

    • Completion in due on our sale of a £325000 apartment in Kingsland next Wednesday . The management company has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Kingsland?

    Kingsland conveyancing on leasehold flats often requires the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has little choice but to pay whatever is demanded should you wish to complete the sale of your home.

    I own a garden flat in Kingsland. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?

    Most certainly. We can put you in touch with a Kingsland conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Kingsland property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case was in relation to 1 flat. The unexpired lease term was 80.5 years.

    Other Topics

    Lease Extensions in Kingsland