Planning to exchange soon on a studio apartment in Palmers Green. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

• You should be sent a copy of the lease

I’m about to sell my garden apartment in Palmers Green.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge 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've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Palmers Green. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Palmers Green ?

The majority of houses in Palmers Green are freehold rather than 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 Palmers Green in which case you should be shopping around for a Palmers Green conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.

I've recently bought a leasehold flat in Palmers Green. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

If all goes to plan we aim to complete the sale of our £450000 maisonette in Palmers Green next week. The landlords agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Palmers Green?

Palmers Green conveyancing on leasehold flats usually involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Palmers Green conveyancing firm to assist?

in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.

An example of a Lease Extension matter before the tribunal for a Palmers Green residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 81.79 years.

Other Topics

Lease Extensions in Palmers Green