Having had my offer accepted I require leasehold conveyancing in Colindale. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Colindale - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Colindale. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

The majority of houses in Colindale are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Colindale in which case you should be looking for a Colindale conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.

What advice can you give us when it comes to appointing a Colindale conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Colindale conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Colindale conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• Can they put you in touch with client in Colindale who can give a testimonial?
• What are the charges for lease extension work?

Can you provide any top tips for leasehold conveyancing in Colindale with the purpose of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Colindale can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
• Some Colindale leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing.
• If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a new share certificate is often a time consuming process and delays many a Colindale home move. If a reissued share is needed, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 475000 apartment in Colindale next Friday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Colindale?

Colindale conveyancing on leasehold maisonettes normally requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are entitled charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

I am the leaseholder of a basement flat in Colindale. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

Most certainly. We can put you in touch with a Colindale conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Colindale residence is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The unexpired term was 70.25 years.

Colindale Leasehold Conveyancing - A selection of Questions you should ask before buying

If a Colindale lease has less than eighty years it will have adverse implications on the value of the flat. Check with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will probably need a lease extension sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you would be required to have owned the residence for a couple of years before you are legally able to extend the lease.