Due to sign contracts shortly on a ground floor flat in Woodside Park. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

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

• The total extent of the demise. This will be the property itself but may include a loft or cellar if applicable.
• Defining your rights in respect of common areas in the building.For example, does the lease include a right of way over an accessway or staircase?
• Does the lease prevent you from letting out the property, or having a home office for business
• You need to be told what counts as a Nuisance in the lease
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?

I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Woodside Park. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

Most houses in Woodside Park 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 clear that you are purchasing in Woodside Park so you should seriously consider looking for a Woodside Park conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.

I am looking at a couple of flats in Woodside Park which have in the region of 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Woodside Park. The lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

I work for a long established estate agent office in Woodside Park where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Woodside Park conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to appointing a Woodside Park conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Woodside Park conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Woodside Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How experienced is the practice with lease extension legislation?
• What are the legal fees for lease extension work?

Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Woodside Park. Can we issue an application to the Residential Property Tribunal Service?

Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Lease Extension case for a Woodside Park property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The unexpired term was 76 years.

Woodside Park Leasehold Conveyancing - Examples of Queries before Purchasing

Is the freehold owned collectively by the leaseholders?