Planning to complete next month on a basement flat in De Beauvoir Town. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in De Beauvoir Town should include some of the following:

• Do you need to have carpet in the flat or are you allowed wood flooring?
• You should have a good understanding of the insurance provisions
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Responsibility for repairing the window frames
• What you can do if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I have just started marketing my 2 bed apartment in De Beauvoir Town.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am attracted to a two flats in De Beauvoir Town which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in De Beauvoir Town is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with De Beauvoir Town conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

When appointing a solicitor for lease extension works (regardless if they are a De Beauvoir Town conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non De Beauvoir Town conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

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

Can you provide any top tips for leasehold conveyancing in De Beauvoir Town with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in De Beauvoir Town can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
• The majority freeholders or Management Companies in De Beauvoir Town charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in De Beauvoir Town.
• A minority of De Beauvoir Town leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge 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 resolved prior to the flat being marketed. The purchasers 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 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 are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
• If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Organising a duplicate share certificate can be a lengthy formality and slows down many a De Beauvoir Town home move. Where a reissued share certificate is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.

Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in De Beauvoir Town. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Absolutely. We are happy to put you in touch with a De Beauvoir Town conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a De Beauvoir Town property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The remaining number of years on the lease was 80.5 years.

De Beauvoir Town Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

Is anyone aware of any major works in the planning that will add a premium to the service fees?