I have just started marketing my 2 bed flat in Cricklewood.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?

The sensible thing to do is discharge the service charge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Cricklewood. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cricklewood ?

Most houses in Cricklewood are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Cricklewood in which case you should be looking for a Cricklewood conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am looking at a couple of maisonettes in Cricklewood which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Cricklewood is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers 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 premises 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 premises 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Can you provide any advice for leasehold conveyancing in Cricklewood with the intention of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Cricklewood can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers representatives.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Cricklewood leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such alterations. If you dont have the paperwork to hand you should not contact the landlord without contacting your solicitor in advance.
• Some Cricklewood leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. It is therefore 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 property on the market for sale.

If all goes to plan we aim to complete the disposal of our £ 475000 apartment in Cricklewood next Monday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Cricklewood?

Cricklewood conveyancing on leasehold flats normally involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is demanded should you wish to sell the property.

I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Cricklewood conveyancing firm to act on my behalf?

in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.

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 affected 2 flats. The unexpired term was 64.61 and 67.18.

Cricklewood Leasehold Conveyancing - A selection of Queries before buying

Generally speaking the outlay for major works tend not to be built into the maintenance charges, although there some managing agents in Cricklewood require leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for major works.