Having had my offer accepted I require leasehold conveyancing in Turnpike Lane. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Turnpike Lane - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have just started marketing my garden apartment in Turnpike Lane.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is 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 managing agents will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of apartments in Turnpike Lane which have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Turnpike Lane is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with less than eighty 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 Turnpike Lane 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.

What are your top tips when it comes to choosing a Turnpike Lane conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Turnpike Lane conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Turnpike Lane conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• If they are not ALEP accredited then what is the reason?
• Can they put you in touch with client in Turnpike Lane who can give a testimonial?

I am the proprietor of a basement flat in Turnpike Lane. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

Most certainly. We can put you in touch with a Turnpike Lane conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Turnpike Lane residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The the unexpired residue of the current lease was 81.79 years.

What are the common defects that you see in leases for Turnpike Lane properties?

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

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• 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 could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Bank of Ireland all have very detailed conveyancing instructions 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, forcing the buyer to pull out.

Turnpike Lane Leasehold Conveyancing - A selection of Questions you should ask before buying

How is the lease structured? Who manages the building? Does the lease have onerous restrictions?