I am in need of some leasehold conveyancing in Coney Hall. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Coney Hall - 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 today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Coney Hall. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Coney Hall ?

The majority of houses in Coney Hall are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Coney Hall in which case you should be looking for a Coney Hall conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.

What advice can you give us when it comes to finding a Coney Hall conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Coney Hall conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Coney Hall conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?
• What are the legal fees for lease extension work?

Can you provide any top tips for leasehold conveyancing in Coney Hall from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Coney Hall can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• The majority freeholders or Management Companies in Coney Hall levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Coney Hall.
• A minority of Coney Hall leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
• You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Coney Hall conveyancing firm to act on my behalf?

Absolutely. We can put you in touch with a Coney Hall conveyancing firm who can help.

An example of a Lease Extension decision for a Coney Hall flat is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The the unexpired residue of the current lease was 50.57 years.

In relation to leasehold conveyancing in Coney Hall what are the most frequent lease defects?

Leasehold conveyancing in Coney Hall is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. 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.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, 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 buyer to pull out.

Coney Hall Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

How much is the ground rent and service charge? Plenty Coney Hall leasehold apartments will incur a service charge for maintenance of the block levied on behalf of the freeholder. Should you purchase the flat you will have to pay this liability, usually periodically throughout the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge to be met annual, this is usually not a large figure, say around £25-£75 but you need to enquire it because sometimes it could be surprisingly expensive.