I am intending to rent out my leasehold apartment in New Barnet. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

The lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in New Barnet do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Estate agents have just been given the go-ahead to market my ground floor apartment in New Barnet.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in New Barnet. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in New Barnet are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in New Barnet in which case you should be shopping around for a New Barnet conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I own a leasehold flat in New Barnet. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in New Barnet who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a New Barnet conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in New Barnet with the aim of saving time on the sale process?

• Much of the delay in leasehold conveyancing in New Barnet can be avoided if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
• The majority freeholders or managing agents in New Barnet levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in New Barnet.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? New Barnet leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you fail to have the consents to hand do not contact the landlord without checking with your conveyancer before hand.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.
• You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

I am the leaseholder of a basement flat in New Barnet. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?

Where there is a absentee freeholder 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 LVT to arrive at the amount due.

An example of a Lease Extension decision for a New Barnet flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired lease term was 76 years.

I purchased a basement flat in New Barnet, conveyancing formalities finalised 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in New Barnet with a long lease are worth £247,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2098

You have 72 years remaining on your lease the likely cost is going to range between £12,400 and £14,200 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.