I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Childs Hill. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Childs Hill ?

The majority of houses in Childs Hill are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Childs Hill in which case you should be looking for a Childs Hill conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I work for a busy estate agency in Childs Hill where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Childs Hill conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 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.

Alternatively, it may be possible 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.

What advice can you give us when it comes to finding a Childs Hill conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Childs Hill conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Childs Hill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• What volume of lease extensions have they completed in Childs Hill in the last 12 months?
• What are the legal fees for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Childs Hill from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Childs Hill can be reduced where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
• The majority landlords or Management Companies in Childs Hill levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Childs Hill.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Childs Hill leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord approving such works. Where you fail to have the approvals in place you should not contact the landlord without checking with your lawyer in the first instance.
• Some Childs Hill leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
• If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate is often a time consuming process and frustrates many a Childs Hill conveyancing deal. Where a duplicate share is necessary, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

My wife and I have hit a brick wall in trying to purchase the freehold in Childs Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.

An example of a Lease Extension decision for a Childs Hill property is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.

Are there frequently found deficiencies that you see in leases for Childs Hill properties?

There is nothing unique about leasehold conveyancing in Childs Hill. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• 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 primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

I invested in buying a studio flat in Childs Hill, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Childs Hill with an extended lease are worth £165,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2106

With just 80 years remaining on your lease we estimate the price of your lease extension to range between £7,600 and £8,800 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.