Having had my offer accepted I require leasehold conveyancing in East Finchley. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in East Finchley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

There are only 62 years left on my lease in East Finchley. I need to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing East Finchley.

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in East Finchley. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in East Finchley are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in East Finchley so you should seriously consider shopping around for a East Finchley conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am looking at a two maisonettes in East Finchley which have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in East Finchley. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

I am employed by a long established estate agency in East Finchley where we have experienced a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local East Finchley conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?

Provided that 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

We have reached the end of our tether in trying to purchase the freehold in East Finchley. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing freeholder or where there is dispute about the premium for a lease extension, 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 make a decision on the price payable.

An example of a Lease Extension matter before the tribunal for a East Finchley property 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 affected 1 flat. The unexpired lease term was 56.65 years.

East Finchley Leasehold Conveyancing - Examples of Questions you should consider before buying

Many East Finchley leasehold apartments will be liable to pay a service charge for the upkeep of the building levied by the landlord. If you purchase the property you will have to meet this liability, normally quarterly throughout the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent for you to pay yearly, ordinarily this is not a exorbitant amount, say about £50-£100 but you need to enquire as on occasion it could be surprisingly expensive. This question is useful as a) areas may result in problems for the block as the common areas may begin to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the running of the building you will wish to have full disclosure