I would like to rent out my leasehold flat in Wood Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

The lease dictates relations between the landlord and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Wood Green do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Planning to sign contracts shortly on a basement flat in Wood Green. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Setting out your rights in respect of common areas in the building.For instance, does the lease grant a right of way over an accessway or hallways?
• Does the lease prohibit wood flooring?
• Does the lease prevent you from letting out the flat, or working from home
• What you can do if a neighbour is in violation of a provision in their lease?
• What the implications are if you breach a clause of your lease?

I am looking at a two apartments in Wood Green both have about forty five years left on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Wood Green with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Wood Green can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Wood Green state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you fail to have the consents to hand you should not communicate with the landlord without contacting your lawyer before hand.
• A minority of Wood Green leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Organising a new share certificate can be a time consuming process and slows down many a Wood Green conveyancing deal. If a duplicate share certificate is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

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

Absolutely. We can put you in touch with a Wood Green conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Wood Green premises 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 number of years remaining on the existing lease(s) was 81.79 years.

In relation to leasehold conveyancing in Wood Green what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Wood Green. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I am the registered owner of a studio flat in Wood Green, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Wood Green with a long lease are worth £240,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2101

With just 75 years left to run we estimate the price of your lease extension to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.