Guaranteed fixed fees for Leasehold Conveyancing in Bow

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When it comes to leasehold conveyancing in Bow, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Nationwide make sure you find a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Bow leasehold conveyancing

I wish to rent out my leasehold flat in Bow. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Bow do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just 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 Bow. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Bow 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. We note that you are buying in Bow so you should seriously consider looking for a Bow conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

Back In 2008, I bought a leasehold flat in Bow. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Bow who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to instruct a Bow conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any advice for leasehold conveyancing in Bow from the point of view of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Bow can be reduced where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers representatives.
  • Many freeholders or managing agents in Bow levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Bow.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve 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 will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Obtaining a re-issued share certificate is often a time consuming process and frustrates many a Bow home move. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • We have reached the end of our tether in seeking a lease extension in Bow. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most certainly. We are happy to put you in touch with a Bow conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Bow flat is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.

    In relation to leasehold conveyancing in Bow what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Bow. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Mortgage Works, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.