I am on look out for some leasehold conveyancing in Clapton. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Clapton - 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 have recently realised that I have Fifty years unexpired on my flat in Clapton. I now wish to get lease extension but my freeholder is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have done all that could be expected to locate the freeholder. For most situations an enquiry agent may be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Clapton.

I am tempted by the attractive purchase price for a couple of maisonettes in Clapton which have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as 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 help from a solicitor and surveyor with experience in this area

I've recently bought a leasehold property in Clapton. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

• Much of the frustration in leasehold conveyancing in Clapton can be reduced where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• Many landlords or managing agents in Clapton levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Clapton.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Clapton leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Where you dont have the consents in place you should not contact the landlord without contacting your lawyer first.
• If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming process and slows down many a Clapton home move. Where a new share certificate is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

I am the registered owner of a a ground floor purpose built flat in Clapton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

Absolutely. We are happy to put you in touch with a Clapton conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Clapton premises 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 affected 10 flats. The unexpired term was 71.25 years.

Clapton Leasehold Conveyancing - Sample of Queries before Purchasing

You should want to discover as much as possible concerning the company managing the building as they will either make living at the property much simpler or much more difficult. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to every day matters such as the cleanliness of the communal areas. Ask prospective neighbours if they are happy with them. Finally, investigate as to the dates that the maintenance charges are due to the managing agents and specifically what it includes. This information is important as a) areas could result in problems in the building as the common areas may begin to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the running of the building you will wish to have complete disclosure