I am in need of some leasehold conveyancing in Kentish Town. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Kentish Town - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Kentish Town. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Kentish Town are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Kentish Town so you should seriously consider looking for a Kentish Town conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am employed by a busy estate agency in Kentish Town where we have witnessed a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Kentish Town conveyancing firms. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 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 sale.

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 buyer.

Do you have any top tips for leasehold conveyancing in Kentish Town with the purpose of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Kentish Town can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
• The majority landlords or managing agents in Kentish Town levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Kentish Town.
• A minority of Kentish Town leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 lawyers.
• If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
• If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a replacement share certificate can be a time consuming formality and slows down many a Kentish Town home move. If a duplicate share certificate is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.

We expect to complete the sale of our £ 400000 flat in Kentish Town on Thursday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Kentish Town?

Kentish Town conveyancing on leasehold maisonettes typically results in fees being levied by managing agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Kentish Town
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Kentish Town leasehold premises is £350. For Kentish Town conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

We have reached the end of our tether in trying to purchase the freehold in Kentish Town. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most certainly. We can put you in touch with a Kentish Town conveyancing firm who can help.

An example of a Lease Extension decision for a Kentish Town residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case related to 1 flat. The unexpired lease term was 64.77 years.

I acquired a studio flat in Kentish Town, conveyancing having been completed 2010. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Kentish Town with an extended lease are worth £241,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2077

With just 51 years left to run we estimate the premium for your lease extension to be between £34,200 and £39,600 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.