I am in need of some leasehold conveyancing in East Ham. Before diving in 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 East Ham - 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 seems to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in East Ham. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in East Ham ?

Most houses in East Ham are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in East Ham so you should seriously consider shopping around for a East Ham conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.

I am tempted by the attractive purchase price for a two apartments in East Ham both have in the region of fifty years remaining on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in East Ham from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in East Ham can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
• The majority landlords or managing agents in East Ham levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding 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 common cause of frustration in leasehold conveyancing in East Ham.
• 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 nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
• If you hold a share in a the freehold, you should ensure that you hold the original share document. Organising a re-issued share certificate can be a time consuming formality and frustrates many a East Ham conveyancing transaction. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a East Ham conveyancing firm to represent me?

if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.

An example of a Lease Extension decision for a East Ham premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired term was 69.77 years.

What makes a East Ham lease unmortgageable?

There is nothing unique about leasehold conveyancing in East Ham. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts 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

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

East Ham Leasehold Conveyancing - Examples of Queries Prior to Purchasing

The majority of East Ham leasehold flats will incur a service bill for the upkeep of the building levied by the freeholder. Where you buy the property you will have to pay this contribution, usually quarterly during the year. This may differ from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, normally this is not a significant amount, say about £50-£100 but you should to check as on occasion it can be many hundreds of pounds. How much is the annual service fee and ground rent?