Looking forward to exchange soon on a leasehold property in Harold Hill. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• The physical extent of the property. This will be the apartment itself but might incorporate a roof space or basement if appropriate.
• Does the lease require carpeting throughout thus preventing wood flooring?
• 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 reserve fund?
• Repair and maintenance of the flat
• 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

My wife and I purchased a leasehold flat in Harold Hill. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Harold Hill who previously acted has long since retired.What should I do?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Harold Hill conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Harold Hill both have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Harold Hill. The lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold flat in Harold Hill. Am I liable to pay service charges for periods before completion of my purchase?

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).

What are your top tips when it comes to choosing a Harold Hill conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Harold Hill conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Harold Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Harold Hill who can give a testimonial?

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Harold Hill conveyancing firm to represent me?

Most certainly. We are happy to put you in touch with a Harold Hill conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Harold Hill property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term was 57.5 years.

I own a 1 bedroom flat in Harold Hill, conveyancing having been completed 2003. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Harold Hill with over 90 years remaining are worth £218,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2085

You have 59 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.