I am hoping to exchange soon on a ground floor flat in Burnt Oak. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?

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

• The total extent of the demise. This will be the property itself but could also include a roof space or cellar if appropriate.
• Defining your rights in relation to common areas in the building.E.G., does the lease include a right of way over a path or staircase?
• Whether the lease restricts you from letting out the flat, or working from home
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• 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
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• 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

I’m about to sell my ground floor apartment in Burnt Oak.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you pay the invoice 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 unless 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.

I own a leasehold house in Burnt Oak. Conveyancing and Bank of Ireland mortgage went though with no issue. 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 1995. The conveyancing practitioner in Burnt Oak who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Burnt Oak conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two flats in Burnt Oak both have in the region of fifty years unexpired on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Burnt Oak is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and lenders, leases with less than eighty years become less and less attractive. 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 property 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 property 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 Burnt Oak conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Last month I purchased a leasehold property in Burnt Oak. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Burnt Oak. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Absolutely. We can put you in touch with a Burnt Oak conveyancing firm who can help.

An example of a Lease Extension case for a Burnt Oak flat is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 71.55 years.

Burnt Oak Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

It is important to be aware if redecorating or some other major work is due shortly to be shared between the leaseholders and will dramatically impact the level of the maintenance fees or result in a one off payment. How much is the ground rent and service charge?