Having had my offer accepted I require leasehold conveyancing in Hatch End. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Hatch End - then the leasehold title will always include the short particulars 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.

Looking forward to exchange soon on a leasehold property in Hatch End. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

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

• Will you be prohibited or prevented from having pets in the property?
• Whether your lease has a provision for a sinking fund?
• You should have a good understanding of the insurance provisions
• 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 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
• What you can do if a neighbour is in violation of a provision in their lease?

I am looking at a two maisonettes in Hatch End which have approximately fifty years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Hatch End is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and banks, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hatch End conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am a negotiator for a reputable estate agency in Hatch End where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Hatch End conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start 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 prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Can you provide any advice for leasehold conveyancing in Hatch End from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Hatch End can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
• The majority freeholders or managing agents in Hatch End charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Hatch End.
• A minority of Hatch End leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Hatch End conveyancing firm to represent me?

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

An example of a Lease Extension matter before the tribunal for a Hatch End flat is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The the unexpired residue of the current lease was 71 years.

Hatch End Leasehold Conveyancing - Sample of Questions you should ask before buying

What is the name of the managing agents? Are any of leasehold owners in dispute over their service charge liability?