Harry (my fiance) and I may need to sub-let our Colney Hatch basement flat for a while due to a career opportunity. We used a Colney Hatch conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Colney Hatch do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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 permission.

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 the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Colney Hatch. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Colney Hatch are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Colney Hatch so you should seriously consider looking for a Colney Hatch conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.

Do you have any top tips for leasehold conveyancing in Colney Hatch from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Colney Hatch can be reduced where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
• The majority landlords or managing agents in Colney Hatch charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Colney Hatch.

If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Colney Hatch leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Where you fail to have the consents in place you should not contact the landlord without contacting your conveyancer in advance.

A minority of Colney Hatch leases require Landlord’s consent to the sale and approval of the buyers. 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.

You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term 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 £275000 flat in Colney Hatch in just under a week. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Colney Hatch?

Colney Hatch conveyancing on leasehold flats normally results in administration charges levied by landlords agents :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Colney Hatch
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Colney Hatch leasehold property is £350. For Colney Hatch conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

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

if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price.

An example of a Lease Extension case for a Colney Hatch residence is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case was in relation to 2 flats. The the unexpired term as at the valuation date was 68 years.

What makes a Colney Hatch lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Colney Hatch. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Virgin Money, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Other Topics

Lease Extensions in Colney Hatch