I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Tottenham Hale. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Tottenham Hale are freehold rather than 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 apparent that you are purchasing in Tottenham Hale in which case you should be looking for a Tottenham Hale conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority 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 obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a couple of apartments in Tottenham Hale both have about fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Tottenham Hale. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

Last month I purchased a leasehold flat in Tottenham Hale. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Do you have any top tips for leasehold conveyancing in Tottenham Hale with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Tottenham Hale can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Tottenham Hale levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Tottenham Hale.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Tottenham Hale leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such alterations. Where you dont have the consents in place do not contact the landlord without checking with your solicitor before hand.
• If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
• If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming formality and delays many a Tottenham Hale home move. Where a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Tottenham Hale conveyancing firm to assist?

in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the sum to be paid.

An example of a Freehold Enfranchisement decision for a Tottenham Hale 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 affected 2 flats. The the number of years remaining on the existing lease(s) was 74.13 years.

In relation to leasehold conveyancing in Tottenham Hale what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Tottenham Hale. Most leases are individual and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• 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 as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

Tottenham Hale Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Best to be warned if fixing the lift or some other major work is coming up that will be shared between the leaseholders and may well dramatically increase the the service fees or result in a one time invoice. Its a good idea to find out as much as you can concerning the company managing the building as they will either make living at the property much easier or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to practical matters like the cleanliness of the communal areas. Ask other people if they are happy with their service. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.