I am on look out for some leasehold conveyancing in Highgate. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

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

I am hoping to exchange soon on a basement flat in Highgate. Conveyancing lawyers inform 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 Highgate should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Defining your rights in relation to the communal areas in the building.E.G., does the lease grant a right of way over a path or staircase?
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• What you can do if a neighbour breach a clause of their lease?

I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Highgate. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Highgate are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Highgate so you should seriously consider shopping around for a Highgate conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a two flats in Highgate both have in the region of fifty years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Highgate is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 premises 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 Highgate conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

If all goes to plan we aim to complete the disposal of our £ 325000 flat in Highgate on Thursday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Highgate?

Highgate conveyancing on leasehold apartments usually involves the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.

After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Highgate. Can we issue an application to the Residential Property Tribunal Service?

if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.

An example of a Lease Extension case for a Highgate flat is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case affected 1 flat. The unexpired term was 67.85 years.

I bought a split level flat in Highgate, conveyancing was carried out 2004. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Highgate with an extended lease are worth £200,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2080

With only 54 years remaining on your lease the likely cost is going to be between £25,700 and £29,600 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.