I am on look out for some leasehold conveyancing in Covent Garden. Before diving in I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Covent Garden - 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 today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Covent Garden. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

The majority of houses in Covent Garden are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Covent Garden so you should seriously consider shopping around for a Covent Garden conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

Can you offer any advice when it comes to choosing a Covent Garden conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Covent Garden conveyancing practice) it is essential 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 Covent Garden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• Can they put you in touch with client in Covent Garden who can give a testimonial?
• What are the charges for lease extension work?

Can you provide any advice for leasehold conveyancing in Covent Garden with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Covent Garden can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Covent Garden state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the paperwork to hand you should not contact the landlord without checking with your lawyer in the first instance.
• A minority of Covent Garden leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (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 purchasers or their solicitors.
• If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property 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 the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
• If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and delays many a Covent Garden home move. If a reissued share is necessary, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.

We expect to complete the disposal of our £ 300000 apartment in Covent Garden next Thursday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Covent Garden?

Covent Garden conveyancing on leasehold maisonettes ordinarily results in fees being levied by freeholders :

• Addressing pre-contract questions
• Where consent is required before sale in Covent Garden
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Covent Garden leasehold property is £350. For Covent Garden conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

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

Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the price.

An example of a Freehold Enfranchisement case for a Covent Garden flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The unexpired term was 73.26 years.

Covent Garden Leasehold Conveyancing - Examples of Questions you should consider before buying

The best form of lease structure is where the freehold title is owned by the leaseholders. In this situation the leaseholders benefit from control and notwithstanding that a managing agent is often employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. How much is the maintenance charge and ground rent on the flat? Make sure you enquire if there is anything that is prohibited in the lease. For example it is reasonably common in Covent Garden leases that pets are not permitted in certain buildings in Covent Garden. If you like the propertyin Covent Garden yet your dog can’t make the move with you then you will be faced difficult determination.