Due to exchange soon on a garden flat in Barking. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Barking should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• You should be told what counts as a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• 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 rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

Estate agents have just been given the go-ahead to market my basement flat in Barking.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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. This will smooth the conveyancing process.

I've found a house that seems to be perfect, at a great price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Barking. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Barking ?

Most houses in Barking are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Barking so you should seriously consider looking for a Barking conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

I am looking at a two maisonettes in Barking which have about fifty years remaining on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area

I work for a busy estate agency in Barking where we have witnessed a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Barking conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Barking conveyancing firm to help?

Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the amount due.

An example of a Lease Extension matter before the tribunal for a Barking property is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the
first floor flat. This case was in relation to 2 flats. The unexpired term was 65.5 years.

Barking Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments? Please note if it is no more than eighty years it will impact the marketability of the property. It is worth checking with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and it is worth discovering how much this would cost. For most Barkinglease extensions you will be be obliged to have owned the premises for a couple of years before you are eligible to exercise a lease extension. How much is the service charge and ground rent on the apartment?