Having had my offer accepted I require leasehold conveyancing in Hackney Marshes. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Hackney Marshes - 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 have recently realised that I have 68 years left on my lease in Hackney Marshes. I now wish to get lease extension but my freeholder is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent would be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Hackney Marshes.

I've found a house that appears to be perfect, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hackney Marshes. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Hackney Marshes ?

The majority of houses in Hackney Marshes are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hackney Marshes so you should seriously consider looking for a Hackney Marshes conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Hackney Marshes 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 plenty of short leases in Hackney Marshes. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Hackney Marshes from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Hackney Marshes can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
• The majority freeholders or managing agents in Hackney Marshes charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. 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 receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Hackney Marshes.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Hackney Marshes state that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such alterations. If you dont have the paperwork in place do not communicate with the landlord without checking with your lawyer in advance.
• If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may have to bite the bullet 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a new share certificate is often a lengthy process and slows down many a Hackney Marshes home move. Where a reissued share is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.

I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Hackney Marshes conveyancing firm to assist?

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

An example of a Freehold Enfranchisement case for a Hackney Marshes residence is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The the unexpired term as at the valuation date was 72.02 years.

I am the registered owner of a basement flat in Hackney Marshes, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Hackney Marshes with over 90 years remaining are worth £194,000. The ground rent is £60 invoiced annually. The lease terminates on 21st October 2090

With just 64 years unexpired we estimate the premium for your lease extension to range between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.