Expecting to complete next month on a garden flat in Clapton. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Clapton should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

The physical extent of the property. This will be the flat itself but might include a loft or cellar if appropriate.

Do you need to have carpet in the flat or are you allowed wood flooring?

Are you allowed to have a pet in the flat?

Does the lease prevent you from renting out the flat, or working from home

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

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be contained in your report on your leasehold property in Clapton please enquire of your conveyancer in advance of your conveyancing in Clapton

Estate agents have just been given the go-ahead to market my basement apartment in Clapton.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – Do I pay up?

The sensible thing to do is pay the service charge 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 unless 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 am looking at a couple of apartments in Clapton both have approximately forty five years unexpired on the leases. 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 reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. For most purchasers and lenders, leases with under eighty years become less and less attractive. 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 top tips for leasehold conveyancing in Clapton with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Clapton can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• Some Clapton 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 obtain financial (bank) and professional references. Any 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 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 very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 buyers, but it is better to reveal the dispute as over rather than unsettled.

If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Clapton conveyancing deal. Where a new share is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’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 less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 apartment in Clapton in just under a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Clapton?

Clapton conveyancing on leasehold maisonettes usually necessitates fees being raised by managing agents :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Clapton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Clapton leasehold premises is £350. For Clapton 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 obliged to supply answers.

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 Clapton conveyancing firm to act on my behalf?

Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.

An example of a Freehold Enfranchisement case 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 the unexpired residue of the current lease was 71.25 years.

Other Topics

Lease Extensions in Clapton