I am in need of some leasehold conveyancing in Bowes Park. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Bowes Park - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Looking forward to complete next month on a basement flat in Bowes Park. Conveyancing solicitors assured 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?

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

• Setting out your legal entitlements in respect of the communal areas in the block.For instance, does the lease permit a right of way over an accessway or hallways?
• Will you be prohibited or prevented from having pets in the property?
• 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?
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• Responsibility for repairing the window frames

Back In 2000, I bought a leasehold house in Bowes Park. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Bowes Park who previously acted has long since retired.Any advice?

The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Bowes Park conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of maisonettes in Bowes Park both have about fifty years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Bowes Park is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and banks, leases with less than eighty years become less and less marketable. 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 Bowes Park 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 the agreed 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 am employed by a busy estate agent office in Bowes Park where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Bowes Park conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I have had difficulty in trying to reach an agreement for a lease extension in Bowes Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply 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 Bowes Park 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 affected 1 flat. The remaining number of years on the lease was 81.79 years.

Bowes Park Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

What prohibitions are there in the Bowes Park Lease? The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders have being in charge if their destiny and even though a managing agent is frequently employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.