Guaranteed fixed fees for Leasehold Conveyancing in Finsbury

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Frequently asked questions relating to Finsbury leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Finsbury. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and 99.9% are in Finsbury - 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.

My fiance and I may need to sub-let our Finsbury garden flat for a while due to taking a sabbatical. We instructed a Finsbury conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Finsbury do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I've found a house that seems to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Finsbury. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Finsbury ?

The majority of houses in Finsbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Finsbury in which case you should be shopping around for a Finsbury conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

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

If you are instructing a property lawyer for lease extension works (regardless if they are a Finsbury conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Finsbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If they are not ALEP accredited then why not?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Finsbury with the purpose of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Finsbury can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
    • Many freeholders or Management Companies in Finsbury levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Finsbury.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Finsbury state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such alterations. If you fail to have the consents in place do not communicate with the landlord without checking with your lawyer in the first instance.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a replacement share certificate is often a lengthy process and slows down many a Finsbury home move. If a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Finsbury. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the price.

    An example of a Lease Extension matter before the tribunal for a Finsbury property 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 number of years remaining on the existing lease(s) was 66.8 years.