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.

Assuming the lease is recorded at the land registry - and 99.9% 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.

Planning to sign contracts shortly on a leasehold property in Hackney Wick. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Hackney Wick should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

Last month I purchased a leasehold house in Hackney Wick. Do I have any liability for service charges for periods before 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. Strange as it may seem, 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 be sure 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).

I am a negotiator for a long established estate agent office in Hackney Wick where we have witnessed a few leasehold sales derailed due to short leases. I have received conflicting advice from local Hackney Wick conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

Can you provide any top tips for leasehold conveyancing in Hackney Wick from the point of view of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Hackney Wick can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
• Many landlords or managing agents in Hackney Wick charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. 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 frequent reason for frustration in leasehold conveyancing in Hackney Wick.
• A minority of Hackney Wick leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve 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 particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Hackney Wick conveyancing firm to assist?

if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to assess the amount due.

An example of a Freehold Enfranchisement matter before the tribunal for a Hackney Wick 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 affected 2 flats. The unexpired lease term was 72.02 years.

Leasehold Conveyancing in Hackney Wick - Sample of Questions you should ask before Purchasing

Best to be warned if redecorating or some other significant cost is coming up to be shared by the tenants and could well materially impact the level of the service charges or require a specific invoice.