I have just appointed agents to market my basement apartment in New Southgate.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 until 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 am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in New Southgate. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in New Southgate ?

Most houses in New Southgate are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in New Southgate so you should seriously consider looking for a New Southgate conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

I am attracted to a two maisonettes in New Southgate both have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in New Southgate. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

Do you have any advice for leasehold conveyancing in New Southgate with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in New Southgate can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in New Southgate state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you dont have the consents to hand do not contact the landlord without contacting your conveyancer before hand.
• Some New Southgate leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice 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 yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Arranging a new share certificate can be a lengthy formality and delays many a New Southgate home move. If a duplicate share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend 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 requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

Completion in due on the sale of our £ 425000 apartment in New Southgate next week. The landlords agents 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 New Southgate?

New Southgate conveyancing on leasehold flats usually involves fees being levied by freeholders :

• Addressing pre-contract enquiries
• Where consent is required before sale in New Southgate
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for New Southgate leasehold property is £350. For New Southgate 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 supply the information.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a New Southgate conveyancing firm to act on my behalf?

Most definitely. We are happy to put you in touch with a New Southgate conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a New Southgate property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired term was 70.31 years.

I acquired a split level flat in New Southgate, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in New Southgate with an extended lease are worth £167,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2084

With 58 years unexpired we estimate the premium for your lease extension to be between £25,700 and £29,600 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do 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 you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.