Having had my offer accepted I require leasehold conveyancing in Hackney Marshes. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is registered - 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 just appointed agents to market my garden apartment in Hackney Marshes.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Hackney Marshes. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

Most houses in Hackney Marshes are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Hackney Marshes so you should seriously consider looking for a Hackney Marshes conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Hackney Marshes which have approximately fifty years remaining on the leases. should I 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 gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

I have had difficulty in trying to purchase the freehold in Hackney Marshes. Can this matter be resolved via the Leasehold Valuation Tribunal?

in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the amount due.

An example of a Freehold Enfranchisement case for a Hackney Marshes property 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 affected 2 flats. The the number of years remaining on the existing lease(s) was 72.02 years.

What makes a Hackney Marshes lease problematic?

There is nothing unique about leasehold conveyancing in Hackney Marshes. All leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• 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. Halifax, Leeds Building Society, and Aldermore all have very detailed conveyancing instructions 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 grant the mortgage, forcing the buyer to pull out.

Hackney Marshes Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Its a good idea to find out as much as possible concerning the managing agents as they can either make your living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical matters like the upkeep of the common parts. Ask prospective neighbours whether they are happy with them. On a final note, find out the dates that the service charges are due to the relevant party and specifically what you get for your money.