Expecting to complete next month on a studio apartment in Camden Town. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Defining your legal entitlements in respect of the communal areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
• Does the lease prohibit wood flooring?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• 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
• Responsibility for repairing the window frames

I’m about to sell my 2 bed flat in Camden Town.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 until 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. This will smooth the conveyancing process.

I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Camden Town. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Camden Town are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Camden Town so you should seriously consider shopping around for a Camden Town conveyancing solicitor and check that they are used to advising on leasehold houses. First 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 such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am attracted to a couple of apartments in Camden Town both have approximately forty five years left on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to choosing a Camden Town conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Camden Town conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Camden Town conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Camden Town who can give a testimonial?

I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Camden Town conveyancing firm to represent me?

You certainly can. We can put you in touch with a Camden Town conveyancing firm who can help.

An example of a Lease Extension decision for a Camden Town residence is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case related to 1 flat. The the unexpired residue of the current lease was 62.79 years.

I acquired a studio flat in Camden Town, conveyancing formalities finalised 6 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Camden Town with over 90 years remaining are worth £166,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2080

With just 54 years unexpired the likely cost is going to be between £26,600 and £30,800 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.