Looking forward to sign contracts shortly on a basement flat in Finsbury. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?

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

• Defining your rights in relation to the communal areas in the block.By way of example, does the lease provide for a right of way over an accessway or staircase?

Does the lease require carpeting throughout thus preventing wood flooring?

Will you be prohibited or prevented from having pets in the property?

You must be told what constitutes a Nuisance in the lease

Whether your lease has a provision for a sinking fund?

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Finsbury please enquire of your conveyancer in advance of your conveyancing in Finsbury

I am looking at a two maisonettes in Finsbury both have about fifty years left on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises 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 seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold property in Finsbury. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

What advice can you give us when it comes to finding a Finsbury 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 Finsbury conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Finsbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• If they are not ALEP accredited then what is the reason?

Can they put you in touch with client in Finsbury who can give a testimonial?

If all goes to plan we aim to complete the sale of our £400000 maisonette in Finsbury next week. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Finsbury?

Finsbury conveyancing on leasehold apartments typically results in fees being levied by freeholders :

• Addressing pre-contract enquiries
• Where consent is required before sale in Finsbury
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Finsbury leasehold property is £350. For Finsbury 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 supply answers.

I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Finsbury conveyancing firm to act on my behalf?

Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to calculate the sum to be paid.

An example of a Lease Extension case for a Finsbury premises 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 was in relation to 1 flat. The remaining number of years on the lease was 66.8 years.