I have just appointed agents to market my ground floor flat in Hackney Marshes.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 management companies will not acknowledge the buyer until 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've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hackney Marshes. Conveyancing lawyers 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 and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Hackney Marshes in which case you should be looking for a Hackney Marshes conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

I am looking at a couple of apartments in Hackney Marshes both have about forty five years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Hackney Marshes. The lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

Do you have any advice for leasehold conveyancing in Hackney Marshes with the intention of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Hackney Marshes can be avoided if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
• Many freeholders or managing agents in Hackney Marshes charge for supplying management packs for a leasehold premises. 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 reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Hackney Marshes.

After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Hackney Marshes. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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 remaining number of years on the lease was 72.02 years.

Are there frequently found problems that you see in leases for Hackney Marshes properties?

There is nothing unique about leasehold conveyancing in Hackney Marshes. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

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. National Westminster Bank, The Royal Bank of Scotland, and Barclays Direct all have express 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, forcing the purchaser to pull out.