I am in need of some leasehold conveyancing in Hornsey. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Hornsey - 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 sign contracts shortly on a basement flat in Hornsey. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• You should be sent a copy of the lease

The total extent of the premises. This will be the flat itself but might include a roof space or cellar if appropriate.

Does the lease prevent you from subletting the property, or working from home

Ground rent - how much and when you need to pay, and also know whether this will change in the future

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) For a comprehensive list of information to be contained in your report on your leasehold property in Hornsey please ask your conveyancer in ahead of your conveyancing in Hornsey

I am a negotiator for a long established estate agency in Hornsey where we see a few leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Hornsey conveyancing solicitors. Please can you clarify whether the seller of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner 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. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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.

If all goes to plan we aim to complete the sale of our £425000 maisonette in Hornsey on Wednesday in a week. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Hornsey?

Hornsey conveyancing on leasehold flats typically necessitates administration charges levied by landlords agents :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Hornsey
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Hornsey leasehold property is £350. For Hornsey 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 provide answers.

We have reached the end of our tether in seeking a lease extension in Hornsey. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the price.

An example of a Freehold Enfranchisement matter before the tribunal for a Hornsey residence is 7 Aubrey Road in December 2010. By an order of the county court on 15/12/2009 the freehold interest inthe Property known as 7 Aubrey Road London N8 9HH (the Property) and registered at HM Land Registry under title number MX439124 was vested in the applicants. The Tribunal calculated that the total enfranchisement premium, assessed in accordance with Schedule 6 to the Act, was £54,633. This case affected 3 flats. The unexpired lease term was 73.27 years.

What are the frequently found deficiencies that you witness in leases for Hornsey properties?

There is nothing unique about leasehold conveyancing in Hornsey. Most leases are unique and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

Other Topics

Lease Extensions in Hornsey