I am on look out for some leasehold conveyancing in Farringdon. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Farringdon - 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 want to sublet my leasehold flat in Farringdon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Farringdon conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Farringdon. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Farringdon ?

Most houses in Farringdon are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Farringdon so you should seriously consider looking for a Farringdon conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.

I am a negotiator for a reputable estate agency in Farringdon where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Farringdon conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 needs to be completed prior to, or simultaneously with completion of the sale.

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 purchaser.

Having spent years of dialogue we cannot 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?

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

An example of a Lease Extension decision for a Farringdon premises 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 related to 1 flat. The the unexpired residue of the current lease was 66.8 years.

When it comes to leasehold conveyancing in Farringdon what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Farringdon. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Coventry Building Society, and TSB all have express conveyancing instructions 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 provide security, forcing the purchaser to withdraw.