I am in need of some leasehold conveyancing in Mill Hill. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Mill Hill - 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.

I only have Seventy years unexpired on my flat in Mill Hill. I am keen to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to find the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Mill Hill.

I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Mill Hill. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Mill Hill are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Mill Hill so you should seriously consider shopping around for a Mill Hill conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Mill Hill both have approximately 50 years remaining on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Mill Hill is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most 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 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 Mill Hill 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 the agreed 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 the leaseholder of a basement flat in Mill Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?

if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price.

An example of a Lease Extension case for a Mill Hill property is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The unexpired lease term was 71.73 years.

Are there common defects that you see in leases for Mill Hill properties?

Leasehold conveyancing in Mill Hill is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• 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

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Mortgage Works, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Other Topics

Lease Extensions in Mill Hill