I am on look out for some leasehold conveyancing in Kingsland. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Kingsland - 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 tick a lot of boxes, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Kingsland. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Kingsland ?

The majority of houses in Kingsland are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Kingsland so you should seriously consider shopping around for a Kingsland conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

I am attracted to a two flats in Kingsland which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Kingsland. The lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold house in Kingsland. 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 lessee 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).

Can you provide any advice for leasehold conveyancing in Kingsland with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Kingsland can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers representatives.
• Many landlords or Management Companies in Kingsland 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 reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Kingsland.
• If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Kingsland leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you dont have the paperwork in place do not contact the landlord without checking with your solicitor before hand.
• Some Kingsland 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 put in hand 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Organising a new share certificate can be a time consuming formality and frustrates many a Kingsland home move. If a reissued share is needed, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

I have had difficulty in seeking a lease extension in Kingsland. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to assess the price payable.

An example of a Lease Extension decision for a Kingsland property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The unexpired lease term was 80.5 years.

Kingsland Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

What prohibitions exist in the Kingsland Lease? What is the the remaining lease term?