Fixed-fee leasehold conveyancing in Clapton:

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Clapton, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Clapton leasehold conveyancing: Q and A’s

Estate agents have just been given the go-ahead to market my 2 bed flat in Clapton.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – what should I do?

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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Clapton. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Clapton ?

Most houses in Clapton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Clapton in which case you should be shopping around for a Clapton conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. 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 landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

My wife and I purchased a leasehold house in Clapton. Conveyancing and Britannia mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Clapton who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Clapton conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Clapton which have approximately forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Clapton is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Clapton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any advice for leasehold conveyancing in Clapton with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Clapton can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the buyers solicitors.
  • The majority landlords or managing agents in Clapton levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out 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 Clapton.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Clapton leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such changes. If you fail to have the paperwork in place do not communicate with the landlord without checking with your conveyancer first.
  • A minority of Clapton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Clapton conveyancing firm to represent me?

    Most definitely. We can put you in touch with a Clapton conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Clapton flat is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The remaining number of years on the lease was 71.25 years.

    Other Topics

    Lease Extensions in Clapton