Guaranteed fixed fees for Leasehold Conveyancing in Hackney Wick

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When it comes to leasehold conveyancing in Hackney Wick, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Nationwide make sure you find a lawyer on their panel. Feel free to use our search tool

Questions and Answers: Hackney Wick leasehold conveyancing

I am in need of some leasehold conveyancing in Hackney Wick. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Hackney Wick - 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.

My husband and I may need to rent out our Hackney Wick basement flat for a while due to taking a sabbatical. We instructed a Hackney Wick conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Hackney Wick do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I have just started marketing my basement flat in Hackney Wick.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – what should I do?

It best that you discharge 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 managing agents will not acknowledge the buyer unless 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.

Last month I purchased a leasehold property in Hackney Wick. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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 ensure 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).

Do you have any top tips for leasehold conveyancing in Hackney Wick with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Hackney Wick can be reduced where you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Hackney Wick leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place do not communicate with the landlord without contacting your solicitor first.
  • Some Hackney Wick leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 buyers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Arranging a re-issued share certificate is often a lengthy formality and delays many a Hackney Wick home move. If a reissued share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Hackney Wick conveyancing firm to assist?

    You certainly can. We can put you in touch with a Hackney Wick conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Hackney Wick 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 affected 2 flats. The remaining number of years on the lease was 72.02 years.