Leasehold Conveyancing in Goodmayes - Get a Quote from the leasehold experts approved by your lender

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Goodmayes, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Goodmayes

Looking forward to sign contracts shortly on a leasehold property in Goodmayes. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

  • Defining your legal entitlements in respect of common areas in the block.For instance, does the lease contain a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Goodmayes please enquire of your conveyancer in advance of your conveyancing in Goodmayes

    • My wife and I purchased a leasehold flat in Goodmayes. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Goodmayes who acted for me is not around.Do I pay?

    First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Goodmayes conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I've recently bought a leasehold property in Goodmayes. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I am employed by a busy estate agent office in Goodmayes where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Goodmayes conveyancing firms. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Do you have any advice for leasehold conveyancing in Goodmayes from the point of view of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Goodmayes can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
    • Many freeholders or managing agents in Goodmayes charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Goodmayes.
  • A minority of Goodmayes leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy formality and frustrates many a Goodmayes conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. 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 under 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the registered owner of a ground floor flat in Goodmayes. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

    Most definitely. We can put you in touch with a Goodmayes conveyancing firm who can help.

    An example of a Lease Extension decision for a Goodmayes residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired lease term was 61.36 years.

    Other Topics

    Lease Extensions in Goodmayes