Fixed-fee leasehold conveyancing in Canary Wharf:

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When it comes to leasehold conveyancing in Canary Wharf, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Birmingham Midshires or NatWest be sure to choose a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Canary Wharf leasehold conveyancing

I am in need of some leasehold conveyancing in Canary Wharf. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and 99.9% are in Canary Wharf - 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.

Due to exchange soon on a ground floor flat in Canary Wharf. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Canary Wharf should include some of the following:

  • Does the lease prohibit wood flooring?
  • You should be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Canary Wharf please enquire of your conveyancer in advance of your conveyancing in Canary Wharf

    • What advice can you give us when it comes to choosing a Canary Wharf conveyancing practice to deal with our lease extension?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Canary Wharf conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Canary Wharf conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How experienced is the firm with lease extension legislation?
  • How many lease extensions has the firm carried out in Canary Wharf in the last 12 months?

    • Can you provide any advice for leasehold conveyancing in Canary Wharf with the aim of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Canary Wharf can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • The majority landlords or managing agents in Canary Wharf charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Canary Wharf.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and delays many a Canary Wharf conveyancing deal. If a duplicate share is required, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Canary Wharf. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the amount due.

    An example of a Freehold Enfranchisement matter before the tribunal for a Canary Wharf 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 related to 3 flats. The the number of years remaining on the existing lease(s) was 101.61 years.

    What makes a Canary Wharf lease defective?

    There is nothing unique about leasehold conveyancing in Canary Wharf. Most leases are unique and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Skipton Building Society, and Alliance & Leicester all have very detailed 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 defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Canary Wharf