I am on look out for some leasehold conveyancing in North Harrow. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in North Harrow - 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.

Expecting to exchange soon on a basement flat in North Harrow. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• Defining your legal entitlements in respect of the communal areas in the block.For example, does the lease permit a right of way over an accessway or hallways?

I am attracted to a couple of maisonettes in North Harrow both have about forty five years left on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in North Harrow is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with less than eighty 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 property 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 North Harrow 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 employed by a reputable estate agency in North Harrow where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local North Harrow conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 £175000 apartment in North Harrow next Friday . The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in North Harrow?

North Harrow conveyancing on leasehold apartments usually involves the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality one has little choice but to pay whatever is demanded if you want to sell the property.

I am the proprietor of a ground-floor 1950’s flat in North Harrow. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

Absolutely. We are happy to put you in touch with a North Harrow conveyancing firm who can help.

An example of a Lease Extension decision for a North Harrow residence is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case related to 1 flat. The the unexpired residue of the current lease was 75.25 years.

Other Topics

Lease Extensions in North Harrow