I am on look out for some leasehold conveyancing in Bow. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Bow - then the leasehold title will always include the short particulars 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 am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Bow. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Bow ?

The majority of houses in Bow are freehold and not 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 apparent that you are buying in Bow in which case you should be shopping around for a Bow conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

What are your top tips when it comes to choosing a Bow conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Bow conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Bow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

Do you have any advice for leasehold conveyancing in Bow with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Bow can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Bow leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you dont have the consents in place you should not contact the landlord without checking with your solicitor in the first instance.

I am the leaseholder of a a ground floor purpose built flat in Bow. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?

in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.

An example of a Freehold Enfranchisement matter before the tribunal 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.

When it comes 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 result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.