I want to sublet my leasehold flat in Bounds Green. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Bounds Green conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

There are only Seventy years unexpired on my flat in Bounds Green. I now want to extend my lease but my freeholder is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent should be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Bounds Green.

Expecting to complete next month on a garden flat in Bounds Green. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Bounds Green should include some of the following:

• The total extent of the demise. This will be the flat itself but might include a loft or basement if appropriate.
• Setting out your rights in respect of the communal areas in the building.For instance, does the lease include a right of way over a path or staircase?
• Whether the lease restricts you from subletting the property, or having a home office for business
• You need to be told what constitutes a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions

I am tempted by the attractive purchase price for a two flats in Bounds Green both have approximately 50 years left on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Bounds Green from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Bounds Green can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Bounds Green leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such changes. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your solicitor before hand.
• Some Bounds Green leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge 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 will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
• You believe that you know the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Bounds Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Absolutely. We can put you in touch with a Bounds Green conveyancing firm who can help.

An example of a Lease Extension case for a Bounds Green premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The remaining number of years on the lease was 81.79 years.

I invested in buying a 1 bedroom flat in Bounds Green, conveyancing formalities finalised 2008. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Bounds Green with a long lease are worth £251,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2100

With only 74 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.