I wish to let out my leasehold apartment in Edmonton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

The lease governs the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Edmonton do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Edmonton. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Edmonton ?

The majority of houses in Edmonton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Edmonton so you should seriously consider looking for a Edmonton conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should appraise you on the various issues.

I work for a busy estate agent office in Edmonton where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Edmonton conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension process for the buyer?

As long as the seller has been the owner 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is 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 buyer.

Can you offer any advice when it comes to choosing a Edmonton conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Edmonton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Edmonton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• If the firm is not ALEP accredited then why not?
• Can they put you in touch with client in Edmonton who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Edmonton from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Edmonton can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
• The majority landlords or Management Companies in Edmonton charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Edmonton.
• A minority of Edmonton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand 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 have had any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved.
• If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a replacement share certificate is often a lengthy formality and frustrates many a Edmonton home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

I have given up trying to purchase the freehold in Edmonton. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the amount due.

An example of a Vesting Order and Purchase of freehold case for a Edmonton premises is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired term was 80.01 years.

I purchased a split level flat in Edmonton, conveyancing was carried out in 1997. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Edmonton with a long lease are worth £231,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2086

With just 60 years unexpired the likely cost is going to range between £20,900 and £24,200 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.