I am hoping to exchange soon on a ground floor flat in Tufnell Park. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Tufnell Park should include some of the following:

• The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years

Estate agents have just been given the go-ahead to market my 2 bed flat in Tufnell Park.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Tufnell Park. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Tufnell Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Tufnell Park so you should seriously consider shopping around for a Tufnell Park conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.

Back In 2005, I bought a leasehold flat in Tufnell Park. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Tufnell Park who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Tufnell Park conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two apartments in Tufnell Park which have about fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Tufnell Park is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive 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 premises 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 Tufnell Park 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 have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Tufnell Park conveyancing firm to assist?

You certainly can. We are happy to put you in touch with a Tufnell Park conveyancing firm who can help.

An example of a Lease Extension case for a Tufnell Park premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 64.77 years.

Other Topics

Lease Extensions in Tufnell Park