Leasehold Conveyancing in Blackwall - Get a Quote from the leasehold experts approved by your lender

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

Common questions relating to Blackwall leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Blackwall. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Blackwall - 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’m about to sell my ground floor apartment in Blackwall.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – Do I pay up?

It best that you discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of flats in Blackwall which have in the region of fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Blackwall is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of buyers and mortgage companies, leases with less than 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 property 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 Blackwall 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.

What advice can you give us when it comes to appointing a Blackwall conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Blackwall conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Blackwall conveyancing practices prior to 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 Blackwall in the last 12 months?
  • Can they put you in touch with client in Blackwall who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Blackwall with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Blackwall can be bypassed where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Blackwall leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. Where you dont have the paperwork to hand do not communicate with the landlord without contacting your lawyer in advance.
  • A minority of Blackwall leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, 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 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 purchasers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore 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 home on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Blackwall conveyancing firm to help?

    Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.

    An example of a Freehold Enfranchisement decision for a Blackwall premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term was 101.61 years.

    Other Topics

    Lease Extensions in Blackwall