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

Examples of recent questions relating to leasehold conveyancing in Aldgate

I am in need of some leasehold conveyancing in Aldgate. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Aldgate - 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 62 years remaining on my lease in Aldgate. I need to extend my lease but my freeholder is missing. What options are available to me?

On the basis that 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 granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases a specialist would be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Aldgate.

I have just started marketing my ground floor flat in Aldgate.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 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.

What are your top tips when it comes to finding a Aldgate conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Aldgate conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Aldgate conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How many lease extensions have they carried out in Aldgate in the last year?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Aldgate with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Aldgate can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Aldgate leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
  • A minority of Aldgate leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 solicitors.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Organising a new share certificate can be a lengthy formality and delays many a Aldgate conveyancing transaction. If a reissued share is needed, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Aldgate. Can we issue an application to the Residential Property Tribunal Service?

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

    An example of a Freehold Enfranchisement case for a Aldgate property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The the unexpired residue of the current lease was 107 years.