I am on look out for some leasehold conveyancing in Somerstown. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Somerstown - 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 complete next month on a ground floor flat in Somerstown. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Somerstown should include some of the following:

• Setting out your rights in relation to the communal areas in the block.E.G., does the lease contain a right of way over a path or hallways?

I have just appointed agents to market my 2 bed flat in Somerstown.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – Do I pay up?

The sensible thing to do is 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Somerstown. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Somerstown ?

The majority of houses in Somerstown are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Somerstown in which case you should be looking for a Somerstown conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.

I am tempted by the attractive purchase price for a two apartments in Somerstown which have about fifty years unexpired on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

I inherited a ground floor flat in Somerstown. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.

An example of a Lease Extension decision for a Somerstown premises is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case affected 1 flat. The unexpired lease term was 62.79 years.