I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Cockfosters. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Cockfosters are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Cockfosters in which case you should be shopping around for a Cockfosters conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I am looking at a two maisonettes in Cockfosters both have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold house in Cockfosters. Am I liable to pay 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. Strange as it may seem, 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).

Can you offer any advice when it comes to appointing a Cockfosters conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Cockfosters conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Cockfosters conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?
• If the firm is not ALEP accredited then why not?

Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Cockfosters. Can we issue an application to the Residential Property Tribunal Service?

Most definitely. We are happy to 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 residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The remaining number of years on the lease was 70.31 years.

In relation to leasehold conveyancing in Cockfosters what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Cockfosters. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Leeds Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

Cockfosters Leasehold Conveyancing - Examples of Questions you should ask before Purchasing