Planning to sign contracts shortly on a leasehold property in Tottenham Hale. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Do you need to have carpet in the flat or are you allowed wood flooring?

You should be told what counts as a Nuisance in the lease

Whether your lease has a provision for a sinking fund?

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

What options are open to you if a neighbour breach a clause of their lease?

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Tottenham Hale please ask your lawyer in advance of your conveyancing in Tottenham Hale

Estate agents have just been given the go-ahead to market my basement apartment in Tottenham Hale.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 until 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. This will smooth the conveyancing process.

I am attracted to a couple of maisonettes in Tottenham Hale both have in the region of fifty years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Tottenham Hale is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. 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 premises 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 Tottenham Hale 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

I am a negotiator for a busy estate agent office in Tottenham Hale where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Tottenham Hale conveyancing solicitors. Please can you confirm whether the seller of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

We expect to complete the sale of our £500000 garden flat in Tottenham Hale next week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Tottenham Hale?

Tottenham Hale conveyancing on leasehold maisonettes typically results in fees being levied by management companies :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Tottenham Hale
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Tottenham Hale leasehold premises is £350. For Tottenham Hale conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I own a ground-floor 1960’s flat in Tottenham Hale. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the amount due.

An example of a Freehold Enfranchisement decision for a Tottenham Hale residence 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 unexpired residue of the current lease was 74.13 years.