Fixed-fee leasehold conveyancing in Farringdon:

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Farringdon, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Farringdon leasehold conveyancing

I am in need of some leasehold conveyancing in Farringdon. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Farringdon - then the leasehold title will always include the short particulars 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.

Planning to exchange soon on a leasehold property in Farringdon. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?

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

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Does the lease prevent you from renting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Repair and maintenance of the flat
  • 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
  • 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
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Farringdon please ask your conveyancer in ahead of your conveyancing in Farringdon

    • I own a leasehold flat in Farringdon. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Farringdon who previously acted has long since retired.Do I pay?

    First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Farringdon conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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 am looking at a couple of maisonettes in Farringdon both have about 50 years remaining on the lease term. Will this present a problem?

    A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

    Can you offer any advice when it comes to appointing a Farringdon conveyancing practice to deal with our lease extension?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Farringdon conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Farringdon 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:

    • If the firm is not ALEP accredited then why not?
  • What are the costs for lease extension work?

    • Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Farringdon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Absolutely. We are happy to put you in touch with a Farringdon conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Farringdon residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The remaining number of years on the lease was 66.8 years.