I am on look out for some leasehold conveyancing in Highams Park. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Highams Park - 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.

Due to exchange soon on a basement flat in Highams Park. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Highams Park should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Does the lease prevent you from renting out the property, or having a home office for business
• You need to be told what counts as a Nuisance in the lease
• Repair and maintenance of the flat
• 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
• What options are open to you if a neighbour breach a clause of their lease?

I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Highams Park. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Highams Park ?

The majority of houses in Highams Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Highams Park so you should seriously consider looking for a Highams Park conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am a negotiator for a reputable estate agency in Highams Park where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Highams Park conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

Can you provide any top tips for leasehold conveyancing in Highams Park with the purpose of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Highams Park can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• Many landlords or Management Companies in Highams Park charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack 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 common cause of delay in leasehold conveyancing in Highams Park.
• Some Highams Park leases require Landlord’s consent to the sale and approval of the buyers. 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 will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to 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 present the dispute as historic as opposed to ongoing.
• If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Organising a replacement share certificate can be a lengthy formality and delays many a Highams Park home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Highams Park. Can we issue an application to the Residential Property Tribunal Service?

You certainly can. We can put you in touch with a Highams Park conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Highams Park premises is 48 Greenleaf Road in December 2009. the lessees sought to exercise their right to purchase the freehold from the landlord by way of collective enfranchisement in accordance with the Leasehold Reform Housing and Urban Development Act 1993.The landlord could not be found.A vesting order was granted from the Bow County Court on 10 September 2007 (Claim No: 8BO04141). The Tribunal held that the premium to be paid was £3,850 This case was in relation to 2 flats. The the unexpired residue of the current lease was 104 years.

Highams Park Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing

Generally speaking the outlay for major works are not wrapped into the maintenance charges, although some managing agents in Highams Park require leaseholders to contribute towards a reserve fund created for the specific purpose of establishing a fund for major works. You should be aware that where the lease has less than eighty years it will affect the marketability of the apartment. It is worth checking with your bank that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this will be. For most Highams Parklease extensions you would need to own the residence for 24 months in order to be entitled to carry out a lease extension.