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

Assuming the lease is registered - and most are in Stamford Hill - 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.

I am tempted by the attractive purchase price for a couple of maisonettes in Stamford Hill which have in the region of 50 years left on the leases. should I be concerned?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold house in Stamford Hill. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

What are your top tips when it comes to finding a Stamford Hill conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Stamford Hill conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Stamford Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?
• What volume of lease extensions has the firm carried out in Stamford Hill in the last 12 months?

Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Stamford Hill. Can we issue an application to the Residential Property Tribunal Service?

Where there is a missing landlord 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 determine the amount due.

An example of a Lease Extension matter before the tribunal for a Stamford Hill premises is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case affected 1 flat. The the unexpired term as at the valuation date was 59 years.

When it comes to leasehold conveyancing in Stamford Hill what are the most common lease defects?

Leasehold conveyancing in Stamford Hill is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Leeds Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

I own a studio flat in Stamford Hill, conveyancing having been completed in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Stamford Hill with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £60 levied per year. The lease finishes on 21st October 2086

You have 60 years left to run we estimate the price of your lease extension to be between £20,000 and £23,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.