Guaranteed fixed fees for Leasehold Conveyancing in New Barnet

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Leasehold conveyancing in New Barnet is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in New Barnet and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to New Barnet leasehold conveyancing

I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in New Barnet. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in New Barnet ?

The majority of houses in New Barnet are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in New Barnet so you should seriously consider shopping around for a New Barnet conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.

Back In 2008, I bought a leasehold flat in New Barnet. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in New Barnet who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a New Barnet conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to finding a New Barnet conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a New Barnet conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non New Barnet conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in New Barnet who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in New Barnet with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in New Barnet can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
    • The majority freeholders or managing agents in New Barnet levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in New Barnet.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? New Barnet leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork in place you should not communicate with the landlord without checking with your conveyancer first.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in New Barnet. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the price.

    An example of a Lease Extension case for a New Barnet property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 76 years.

    What makes a New Barnet lease defective?

    Leasehold conveyancing in New Barnet is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • 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

    You could 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. Barclays , Bank of Scotland, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in New Barnet