I am on look out for some leasehold conveyancing in Hackney Marshes. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Hackney Marshes - then the leasehold title will always include the basic details 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've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Hackney Marshes. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Hackney Marshes ?

Most houses in Hackney Marshes are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Hackney Marshes so you should seriously consider shopping around for a Hackney Marshes conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two apartments in Hackney Marshes both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

I work for a busy estate agency in Hackney Marshes where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Hackney Marshes conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

We expect to complete our sale of a £450000 garden flat in Hackney Marshes in 10 days. The management company has quoted £336 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Hackney Marshes?

Hackney Marshes conveyancing on leasehold flats normally requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to do so. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to sell the property.

I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hackney Marshes conveyancing firm to represent me?

in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.

An example of a Freehold Enfranchisement matter before the tribunal for a Hackney Marshes flat 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 related to 2 flats. The the unexpired term as at the valuation date was 72.02 years.