I wish to let out my leasehold apartment in Canonbury. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Canonbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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 consent.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Canonbury. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Canonbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Canonbury so you should seriously consider looking for a Canonbury conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

I am looking at a couple of flats in Canonbury both have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Canonbury is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of purchasers and lenders, leases with under 75 years become less and less attractive. On a more positive 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 a residence 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 Canonbury 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 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 any new 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 work for a reputable estate agent office in Canonbury where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Canonbury conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Completion in due on the disposal of our £ 275000 apartment in Canonbury next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Canonbury?

Canonbury conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is demanded if you want to complete the sale of your home.

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

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the premium.

An example of a Lease Extension decision for a Canonbury premises is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The the unexpired residue of the current lease was 80.5 years.

Leasehold Conveyancing in Canonbury - Examples of Questions you should consider before Purchasing

What restrictions exist in the Canonbury Lease?