Looking forward to sign contracts shortly on a studio apartment in Hackney Wick. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Setting out your rights in respect of the communal areas in the building.For example, does the lease provide for a right of way over a path or staircase?

Whether the lease restricts you from subletting the property, or working from home

You should be told what counts as a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this will change in the future

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

Whether your lease has a provision for a sinking fund? For a comprehensive list of information to be contained in your report on your leasehold property in Hackney Wick please ask your conveyancer in ahead of your conveyancing in Hackney Wick

Estate agents have just been given the go-ahead to market my garden flat in Hackney Wick.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

It best that you clear 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. This will smooth the conveyancing process.

Can you provide 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 avoided where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
• The majority freeholders or Management Companies in Hackney Wick charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Hackney Wick.

A minority of Hackney Wick leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their lawyers.

If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Arranging a replacement share certificate is often a time consuming formality and delays many a Hackney Wick conveyancing deal. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

All being well we will complete the sale of our £325000 garden flat in Hackney Wick on Tuesday in a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Hackney Wick?

Hackney Wick conveyancing on leasehold flats ordinarily results in fees being raised by freeholders :

• Addressing pre-contract questions
• Where consent is required before sale in Hackney Wick
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Hackney Wick leasehold property is £350. For Hackney Wick conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I have had difficulty in trying to purchase the freehold in Hackney Wick. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We are happy to put you in touch with a Hackney Wick conveyancing firm who can help.

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 related to 2 flats. The unexpired term was 72.02 years.

What are the common defects that you see in leases for Hackney Wick properties?

There is nothing unique about leasehold conveyancing in Hackney Wick. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts 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 a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.