I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Tottenham Green. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Tottenham Green are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Tottenham Green in which case you should be looking for a Tottenham Green conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant 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 conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.

I've recently bought a leasehold house in Tottenham Green. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner 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 ensure 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 advice can you give us when it comes to appointing a Tottenham Green conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Tottenham Green conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Tottenham Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?
• What volume of lease extensions have they completed in Tottenham Green in the last year?

Do you have any top tips for leasehold conveyancing in Tottenham Green from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Tottenham Green can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
• The majority freeholders or managing agents in Tottenham Green charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Tottenham Green.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Tottenham Green state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the consents to hand you should not contact the landlord without contacting your conveyancer in the first instance.
• Some Tottenham Green leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a lengthy process and slows down many a Tottenham Green home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

I inherited a ground-floor 1960’s flat in Tottenham Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

Most certainly. We can put you in touch with a Tottenham Green conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Tottenham Green property 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 remaining number of years on the lease was 74.13 years.

What makes a Tottenham Green lease unmortgageable?

Leasehold conveyancing in Tottenham Green is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• 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

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I invested in buying a split level flat in Tottenham Green, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Tottenham Green with a long lease are worth £235,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2101

You have 75 years remaining on your lease the likely cost is going to be between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.