I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Wood Green. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Wood Green ?

The majority of houses in Wood Green are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Wood Green in which case you should be looking for a Wood Green conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.

My wife and I purchased a leasehold house in Wood Green. Conveyancing and The Mortgage Works mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Wood Green who acted for me is not around.What should I do?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Wood Green conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured 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.

I am attracted to a two maisonettes in Wood Green both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold house in Wood Green. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Completion in due on our sale of a £ 250000 apartment in Wood Green on Friday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Wood Green?

Wood Green conveyancing on leasehold apartments usually requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.

I have tried to negotiate informally with with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Wood Green conveyancing firm to help?

Most certainly. We are happy to put you in touch with a Wood Green conveyancing firm who can help.

An example of a Lease Extension decision for a Wood Green 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 was in relation to 1 flat. The the unexpired residue of the current lease was 81.79 years.

I own a garden flat in Wood Green, conveyancing formalities finalised 2008. How much will my lease extension cost? Equivalent properties in Wood Green with a long lease are worth £239,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2104

With just 78 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.