Expecting to exchange soon on a leasehold property in Enfield Town. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Enfield Town should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• Whether the lease restricts you from subletting the flat, or having a home office for business
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• You should have a good understanding of the insurance provisions
• Responsibility for repairing the window frames
• What you can do if a neighbour is in violation of a provision in their lease?

I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Enfield Town. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Enfield Town ?

The majority of houses in Enfield Town are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Enfield Town in which case you should be shopping around for a Enfield Town conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I own a leasehold flat in Enfield Town. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Enfield Town who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Enfield Town conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of maisonettes in Enfield Town which have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Enfield Town. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to make a decision on the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Enfield Town flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired term was 81.79 years.

Are there frequently found deficiencies that you witness in leases for Enfield Town properties?

There is nothing unique about leasehold conveyancing in Enfield Town. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Mortgage Works, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

I acquired a studio flat in Enfield Town, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Enfield Town with an extended lease are worth £215,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2091

You have 65 years unexpired we estimate the price of your lease extension to span between £15,200 and £17,600 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.