I am hoping to exchange soon on a ground floor flat in Archway. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Archway should include some of the following:

• You should be sent a copy of the lease

I have just started marketing my ground floor apartment in Archway.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am looking at a two apartments in Archway which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Archway is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Archway conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold flat in Archway. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to choosing a Archway conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Archway conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Archway conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• If they are not ALEP accredited then why not?

I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Archway conveyancing firm to represent me?

in cases where there is a missing landlord or if 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 First-tier Tribunal (Property Chamber) to determine the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Archway residence is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case affected 1 flat. The unexpired lease term was 67.85 years.