I am attracted to a two maisonettes in Cricklewood both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Cricklewood is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cricklewood conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold house in Cricklewood. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. A critical element 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 Cricklewood conveyancing practice to deal with our lease extension?

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

• How many lease extensions has the firm completed in Cricklewood in the last year?
• What are the charges for lease extension work?

Can you provide any advice for leasehold conveyancing in Cricklewood with the intention of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Cricklewood can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Cricklewood state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand.
• Some Cricklewood 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 obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
• You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important 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.

All being well we will complete the sale of our £ 475000 garden flat in Cricklewood next Thursday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cricklewood?

Cricklewood conveyancing on leasehold flats usually results in administration charges invoiced by management companies :

• Answering pre-contract questions
• Where consent is required before sale in Cricklewood
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Cricklewood leasehold property is £350. For Cricklewood 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 supply answers.

I inherited a first floor flat in Cricklewood. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

You certainly can. We are happy to put you in touch with a Cricklewood conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Cricklewood premises is 73 and 73a St. Pauls Avenue in October 2013. the Tribunal held in accordance with section32 and Schedule 6 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the enfranchisement was
fifty three thousand three hundred and sixty one pounds (£53,361.00) This case related to 2 flats. The remaining number of years on the lease was 64.61 and 67.18.

I am the registered owner of a split level flat in Cricklewood, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Cricklewood with a long lease are worth £211,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2098

With only 72 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.