Having had my offer accepted I require leasehold conveyancing in Gidea Park. Before I get started I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in Gidea Park - 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.

Planning to sign contracts shortly on a ground floor flat in Gidea Park. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
• The total extent of the property. This will be the flat itself but could also incorporate a roof space or cellar if appropriate.
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• 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.
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I work for a long established estate agent office in Gidea Park where we have experienced a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Gidea Park conveyancing solicitors. Please can you shed some light as to 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. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. 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 sale.

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 purchaser.

Can you provide any advice for leasehold conveyancing in Gidea Park with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Gidea Park can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers lawyers.
• The majority landlords or managing agents in Gidea Park levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Gidea Park.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Gidea Park state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you dont have the consents to hand you should not communicate with the landlord without checking with your solicitor in the first instance.
• A minority of Gidea Park leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.

If all goes to plan we aim to complete the sale of our £ 325000 maisonette in Gidea Park next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Gidea Park?

Gidea Park conveyancing on leasehold apartments often requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to assist. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.

I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Gidea Park conveyancing firm to represent me?

Most certainly. We can put you in touch with a Gidea Park conveyancing firm who can help.

An example of a Lease Extension decision for a Gidea Park residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the unexpired term as at the valuation date was 57.5 years.

I own a split level flat in Gidea Park, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Gidea Park with a long lease are worth £233,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2106

With just 80 years left to run the likely cost is going to be between £9,500 and £11,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.