Experts for Leasehold Conveyancing in Lea Bridge

When it comes to leasehold conveyancing in Lea Bridge, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Nationwide make sure you choose a lawyer on their panel. Feel free to use our search tool

Frequently asked questions relating to Lea Bridge leasehold conveyancing

Harry (my fiance) and I may need to sub-let our Lea Bridge ground floor flat for a while due to taking a sabbatical. We used a Lea Bridge conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Even though your last Lea Bridge conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I've recently bought a leasehold property in Lea Bridge. Am I liable to pay 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. 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 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 Lea Bridge where we see a few flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Lea Bridge conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 proposed purchaser need not have 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 prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

What advice can you give us when it comes to choosing a Lea Bridge conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Lea Bridge conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Lea Bridge 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:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Lea Bridge who can give a testimonial?

All being well we will complete the disposal of our £ 175000 apartment in Lea Bridge in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Lea Bridge?

For the majority of leasehold sales in Lea Bridge conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Completing conveyancing due diligence questions
  • Where consent is required before sale in Lea Bridge
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Lea Bridge leasehold property is £350. For Lea Bridge 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 required to supply answers.

I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Lea Bridge conveyancing firm to help?

if there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the premium.

An example of a Freehold Enfranchisement matter before the tribunal for a Lea Bridge residence is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The unexpired term was 71.25 years.

I acquired a basement flat in Lea Bridge, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Lea Bridge with an extended lease are worth £205,000. The ground rent is £60 yearly. The lease expires on 21st October 2105

With only 79 years unexpired the likely cost is going to be between £11,400 and £13,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.