I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in East Finchley. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in East Finchley are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in East Finchley so you should seriously consider looking for a East Finchley conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

My wife and I purchased a leasehold flat in East Finchley. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in East Finchley who previously acted has now retired.What should I do?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a East Finchley conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agency in East Finchley where we have witnessed a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local East Finchley conveyancing solicitors. Could you confirm whether the owner of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 175000 garden flat in East Finchley in 8 days. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in East Finchley?

East Finchley conveyancing on leasehold flats ordinarily involves administration charges levied by landlords agents :

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

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for East Finchley leasehold premises is £350. For East Finchley 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 required to supply the information.

I have tried to negotiate informally with with my landlord for a lease extension without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a East Finchley conveyancing firm to represent me?

You certainly can. We can put you in touch with a East Finchley conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a East Finchley flat is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case related to 1 flat. The unexpired term was 56.65 years.

Are there common defects that you encounter in leases for East Finchley properties?

Leasehold conveyancing in East Finchley is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• 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

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

I purchased a ground floor flat in East Finchley, conveyancing was carried out 2002. How much will my lease extension cost? Equivalent properties in East Finchley with an extended lease are worth £252,000. The ground rent is £60 charged once a year. The lease ends on 21st October 2088

With just 62 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.