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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Edgware, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Edgware

I am hoping to sign contracts shortly on a ground floor flat in Edgware. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Edgware should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the apartment itself but might incorporate a roof space or cellar if appropriate.
  • Setting out your rights in respect of common areas in the building.By way of example, does the lease grant a right of way over a path or staircase?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Edgware please enquire of your lawyer in advance of your conveyancing in Edgware

    • I have just started marketing my 2 bed flat in Edgware.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should discharge 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 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. This will smooth the conveyancing process.

    My wife and I purchased a leasehold house in Edgware. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Edgware who previously acted has now retired.Do I pay?

    First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Edgware conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I work for a busy estate agent office in Edgware where we have witnessed a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Edgware conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?

    As long as 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 buyer need not have to sit tight for 2 years to extend their lease. 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.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

    I am the proprietor of a second floor flat in Edgware. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

    Most definitely. We are happy to put you in touch with a Edgware conveyancing firm who can help.

    An example of a Lease Extension case for a Edgware premises is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The the unexpired residue of the current lease was 71.73 years.

    What are the common deficiencies that you witness in leases for Edgware properties?

    There is nothing unique about leasehold conveyancing in Edgware. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • 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. HSBC Bank, Skipton Building Society, and Godiva Mortgages Ltd 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 problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Edgware