I have just appointed agents to market my garden apartment in Cockfosters.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 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.

My wife and I purchased a leasehold flat in Cockfosters. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Cockfosters who acted for me is not around.Do I pay?

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 Cockfosters conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Cockfosters which have in the region of forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Cockfosters. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to appointing a Cockfosters conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Cockfosters conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Cockfosters conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How experienced is the firm with lease extension legislation?
• What are the costs for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Cockfosters with the aim of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Cockfosters can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
• Many freeholders or managing agents in Cockfosters charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Cockfosters.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Cockfosters state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you fail to have the consents to hand you should not communicate with the landlord without contacting your solicitor in the first instance.
• A minority of Cockfosters leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.

My wife and I have hit a brick wall in seeking a lease extension in Cockfosters. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We can put you in touch with a Cockfosters conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the unexpired residue of the current lease was 70.31 years.

I am the registered owner of a basement flat in Cockfosters, conveyancing having been completed in 1999. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Cockfosters with a long lease are worth £195,000. The ground rent is £65 levied per year. The lease comes to an end on 21st October 2082

With just 56 years unexpired we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.