I am on look out for some leasehold conveyancing in Finsbury. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming 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.

I own a leasehold flat in Finsbury. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Finsbury who previously acted has now retired.Do I pay?

First contact HMLR to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Finsbury conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agency in Finsbury where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Finsbury conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Can you provide any advice for leasehold conveyancing in Finsbury with the aim of expediting the sale process?

• Much of the delay in leasehold conveyancing in Finsbury can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers representatives.
• Many freeholders or managing agents in Finsbury levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Finsbury.

All being well we will complete our sale of a £225000 maisonette in Finsbury in just under a week. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Finsbury?

Finsbury conveyancing on leasehold flats more often than not involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to do so. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

My wife and I have hit a brick wall in trying to purchase the freehold in Finsbury. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.

An example of a Lease Extension decision for a Finsbury flat 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 the unexpired term as at the valuation date was 66.8 years.