I am on look out for some leasehold conveyancing in Seven Sisters. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Seven Sisters - 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.

Frank (my husband) and I may need to sub-let our Seven Sisters ground floor flat for a while due to a new job. We used a Seven Sisters conveyancing practice in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

The lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Seven Sisters do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I’m about to sell my 2 bed apartment in Seven Sisters.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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. This will smooth the conveyancing process.

I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Seven Sisters. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Seven Sisters ?

Most houses in Seven Sisters 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 purchasing in Seven Sisters so you should seriously consider looking for a Seven Sisters conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I am looking at a two maisonettes in Seven Sisters which have approximately fifty years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Seven Sisters is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most buyers and banks, leases with under eighty years become less and less attractive. 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 Seven Sisters 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.

Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Seven Sisters. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price.

An example of a Freehold Enfranchisement decision for a Seven Sisters premises is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case related to 2 flats. The unexpired term was 74.13 years.

Leasehold Conveyancing in Seven Sisters - Examples of Questions you should consider before Purchasing

Its a good idea to discover as much as you can about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the common parts. Enquire of other people whether they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely how they are spending that money. The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders have being in charge if their destiny and even though a managing agent is frequently employed where it is larger than a house conversion, the managing agent is directed by the tenants. In the main the cost for major works tend not to be included within service charges, although a few managing agents in Seven Sisters require tenants to pay into a reserve fund and this is used to offset against larger repairs or maintenance.