I have just started marketing my garden flat in Kingsbury.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – Do I pay up?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am attracted to a couple of apartments in Kingsbury which have in the region of fifty years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Kingsbury is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. 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 Kingsbury 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.

I've recently bought a leasehold property in Kingsbury. 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. Strange as it may seem, 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).

Do you have any top tips for leasehold conveyancing in Kingsbury with the purpose of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Kingsbury can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Kingsbury leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord approving such changes. 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 Kingsbury leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you hold a share in a the freehold, you should ensure that you have the original share certificate. Obtaining a new share certificate can be a time consuming process and frustrates many a Kingsbury conveyancing deal. If a duplicate share certificate is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is under 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

My wife and I have hit a brick wall in seeking a lease extension in Kingsbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We can put you in touch with a Kingsbury conveyancing firm who can help.

An example of a Lease Extension case for a Kingsbury residence is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The unexpired term was 70.25 years.

Are there common defects that you encounter in leases for Kingsbury properties?

There is nothing unique about leasehold conveyancing in Kingsbury. All leases are individual and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Leeds Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

I own a split level flat in Kingsbury, conveyancing having been completed in 2007. Can you work out an approximate cost of a lease extension? Equivalent properties in Kingsbury with a long lease are worth £231,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2086

With only 60 years left to run the likely cost is going to span between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.