Looking forward to complete next month on a studio apartment in Bounds Green. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The physical extent of the premises. This will be the property itself but might incorporate a loft or basement if applicable.

Whether your lease has a provision for a sinking fund?

You should have a good understanding of the insurance provisions

Repair and maintenance of the flat

Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Bounds Green please enquire of your lawyer in advance of your conveyancing in Bounds Green

Estate agents have just been given the go-ahead to market my basement flat in Bounds Green.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – what should I do?

It best that you discharge the service charge 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.

Last month I purchased a leasehold house in Bounds Green. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner 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 ensure 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).

We expect to complete the disposal of our £150000 apartment in Bounds Green on Thursday in a week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bounds Green?

Bounds Green conveyancing on leasehold apartments ordinarily necessitates fees being levied by management companies :

• Completing pre-contract questions
• Where consent is required before sale in Bounds Green
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Bounds Green leasehold premises 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 have had difficulty in trying to purchase the freehold in Bounds Green. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.

An example of a Lease Extension matter before the tribunal for a Bounds Green residence 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 related to 1 flat. The the unexpired residue of the current lease was 81.79 years.

When it comes to leasehold conveyancing in Bounds Green what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Bounds Green. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Coventry Building Society, and Britannia all have express conveyancing instructions 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, forcing the buyer to pull out.