Jane (my partner) and I may need to let out our Bounds Green ground floor flat temporarily due to a new job. We instructed a Bounds Green conveyancing firm in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

A small minority of properties in Bounds Green do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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 permission.

I own a leasehold house in Bounds Green. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Bounds Green who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to instruct a Bounds Green conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of apartments in Bounds Green which have about forty five years unexpired on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

Can you offer any advice when it comes to choosing a Bounds Green conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Bounds Green conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Bounds Green conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• If they are not ALEP accredited then what is the reason?
• How many lease extensions has the firm completed in Bounds Green in the last year?

I have had difficulty in trying to purchase the freehold in Bounds Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.

An example of a Lease Extension case for a Bounds Green flat 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 the number of years remaining on the existing lease(s) was 81.79 years.

What makes a Bounds Green lease unmortgageable?

There is nothing unique about leasehold conveyancing in Bounds Green. All leases is drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express 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 grant the mortgage, obliging the buyer to withdraw.

Leasehold Conveyancing in Bounds Green - A selection of Questions you should consider Prior to Purchasing

Who are the managing agents?