My wife and I may need to rent out our Finsbury Park basement flat for a while due to a career opportunity. We instructed a Finsbury Park conveyancing firm in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Finsbury Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am hoping to complete next month on a garden flat in Finsbury Park. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?

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

• The physical extent of the property. This will be the flat itself but could also incorporate a loft or cellar if applicable.

Defining your legal entitlements in respect of common areas in the block.By way of example, does the lease permit a right of way over an accessway or hallways?

Does the lease prohibit wood flooring?

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

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

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be included in your report on your leasehold property in Finsbury Park please enquire of your lawyer in advance of your conveyancing in Finsbury Park

I am tempted by the attractive purchase price for a couple of apartments in Finsbury Park both have about 50 years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Finsbury Park. The lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold property in Finsbury Park. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

We expect to complete the disposal of our £425000 garden flat in Finsbury Park in seven days. The freeholder has quoted £300 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Finsbury Park?

Finsbury Park conveyancing on leasehold apartments nine out of ten times involves administration charges invoiced by management companies :

• Answering pre-contract enquiries
• Where consent is required before sale in Finsbury Park
• 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 Park leasehold property is £350. For Finsbury Park 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 had difficulty in trying to purchase the freehold in Finsbury Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We are happy to put you in touch with a Finsbury Park conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Finsbury Park flat is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case related to 1 flat. The remaining number of years on the lease was 71 years.

Other Topics

Lease Extensions in Finsbury Park