I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Bounds Green. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Bounds Green ?

The majority of houses in Bounds Green are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Bounds Green in which case you should be looking for a Bounds Green conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

Back In 2003, I bought a leasehold flat in Bounds Green. Conveyancing and Bank of Scotland 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 1991. The conveyancing solicitor in Bounds Green who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Bounds Green conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of maisonettes in Bounds Green both have in the region of forty five years unexpired on the leases. should I be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

What are your top tips when it comes to appointing a Bounds Green conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Bounds Green conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Bounds Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?
• What are the costs for lease extension conveyancing?

All being well we will complete our sale of a £ 325000 apartment in Bounds Green next Thursday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bounds Green?

For the majority of leasehold sales in Bounds Green conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract enquiries
• Where consent is required before sale in Bounds Green
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Bounds Green leasehold property is £350. For Bounds Green conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I own a garden flat in Bounds Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to judgment on the amount due.

An example of a Lease Extension decision 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 affected 1 flat. The unexpired lease term was 81.79 years.

Leasehold Conveyancing in Bounds Green - A selection of Queries Prior to Purchasing

How is the lease structured? Who takes charge for maintaining and repairing the building? This question is important as a) areas can cause problems in the building as the communal areas may start to deteriorate where repairs remain unpaid b) if the leaseholders have a dispute with the managing agents you will want to have full disclosure