I have recently realised that I have 72 years left on my lease in Stroud Green. I now wish to extend my lease but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. On the whole an enquiry agent may be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Stroud Green.

I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Stroud Green. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stroud Green ?

Most houses in Stroud Green are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Stroud Green so you should seriously consider looking for a Stroud Green conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a two flats in Stroud Green both have approximately 50 years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Stroud Green is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more upbeat 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 a residence 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 Stroud Green 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.

Can you offer any advice when it comes to finding a Stroud Green conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Stroud Green conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Stroud Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Stroud Green who can give a testimonial?

If all goes to plan we aim to complete the disposal of our £ 275000 garden flat in Stroud Green next Monday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Stroud Green?

Stroud Green conveyancing on leasehold flats more often than not requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have little option but to pay whatever is requested of you if you want to complete the sale of your home.

After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Stroud Green. Can we issue an application to the Residential Property Tribunal Service?

Most definitely. We can put you in touch with a Stroud Green conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Stroud Green property is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The the unexpired term as at the valuation date was 71 years.

Leasehold Conveyancing in Stroud Green - A selection of Queries Prior to Purchasing

How much is the maintenance charge and ground rent on the apartment?