I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Winchmore Hill. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Winchmore Hill ?

The majority of houses in Winchmore Hill are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Winchmore Hill in which case you should be shopping around for a Winchmore Hill conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should appraise you on the various issues.

Back In 2003, I bought a leasehold flat in Winchmore Hill. Conveyancing and Barnsley Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Winchmore Hill who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Winchmore Hill conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Winchmore Hill with the intention of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Winchmore Hill can be reduced if you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ representatives.
• Many landlords or managing agents in Winchmore Hill levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Winchmore Hill.
• If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Winchmore Hill state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you dont have the approvals to hand you should not communicate with the landlord without checking with your solicitor first.
• If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Winchmore Hill conveyancing deal. Where a reissued share is required, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
• You believe that you know the number of years left on your lease but you should double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Completion in due on our sale of a £ 500000 flat in Winchmore Hill in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Winchmore Hill?

For most leasehold sales in Winchmore Hill conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract enquiries
• Where consent is required before sale in Winchmore Hill
• Supplying insurance information
• 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 Winchmore Hill leasehold property is £350. For Winchmore Hill 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 required to provide answers.

I have had difficulty in trying to purchase the freehold in Winchmore Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?

You certainly can. We can put you in touch with a Winchmore Hill conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Winchmore Hill flat 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 affected 1 flat. The the number of years remaining on the existing lease(s) was 81.79 years.

What are the frequently found defects that you see in leases for Winchmore Hill properties?

Leasehold conveyancing in Winchmore Hill is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter 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. Santander, Coventry Building Society, and Alliance & Leicester 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, obliging the buyer to pull out.

I invested in buying a ground floor flat in Winchmore Hill, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Winchmore Hill with over 90 years remaining are worth £203,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2087

With just 61 years remaining on your lease the likely cost is going to range between £20,900 and £24,200 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.