Expecting to complete next month on a leasehold property in Finsbury. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Finsbury. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Finsbury ?

Most houses in Finsbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Finsbury in which case you should be shopping around for a Finsbury conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee 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 conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I am a negotiator for a busy estate agent office in Finsbury where we have witnessed a few flat sales jeopardised due to short leases. I have received contradictory information from local Finsbury conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 needs to be completed before, or at the same time as completion of the disposal of the property.

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.

What advice can you give us when it comes to finding a Finsbury conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Finsbury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Finsbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• If the firm is not ALEP accredited then why not?

If all goes to plan we aim to complete our sale of a £325000 flat in Finsbury on Friday in a week. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Finsbury?

Finsbury conveyancing on leasehold apartments more often than not involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality you have little option but to pay whatever is demanded if you want to complete the sale of your home.

Notwithstanding our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Finsbury. Can this matter be resolved via the Leasehold Valuation Tribunal?

Absolutely. We can put you in touch with a Finsbury conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Finsbury flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired lease term was 66.8 years.