Expecting to sign contracts shortly on a leasehold property in Crouch End. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Crouch End should include some of the following:

• You should be sent a copy of the lease

The physical extent of the property. This will be the flat itself but could also include a loft or cellar if appropriate.

You must be told what counts as a Nuisance in the lease

Whether your lease has a provision for a reserve fund?

Repair and maintenance of the flat

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Crouch End please enquire of your conveyancer in ahead of your conveyancing in Crouch End

I am tempted by the attractive purchase price for a couple of apartments in Crouch End both have about 50 years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Crouch End. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold house in Crouch End. Am I liable to pay service charges for periods before 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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 Crouch End conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Crouch End conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Crouch End conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• Can they put you in touch with client in Crouch End who can give a testimonial?

What are the costs for lease extension work?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200000 maisonette in Crouch End next week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Crouch End?

For the majority of leasehold sales in Crouch End conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-exchange enquiries
• Where consent is required before sale in Crouch End
• Copies of the building insurance and schedule
• 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 Crouch End leasehold property is £350. For Crouch End 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 answers.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Crouch End conveyancing firm to help?

if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Crouch End residence is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case related to 1 flat. The the number of years remaining on the existing lease(s) was 67.85 years.

Other Topics

Lease Extensions in Crouch End