I am hoping to exchange soon on a leasehold property in Leyton. 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?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Does the lease prohibit wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• Responsibility for repairing the window frames

I have just started marketing my basement flat in Leyton.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – Do I pay up?

The sensible thing to do is pay 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold house in Leyton. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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).

Can you offer any advice when it comes to finding a Leyton conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Leyton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Leyton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• How many lease extensions have they carried out in Leyton in the last 12 months?

Can you provide any top tips for leasehold conveyancing in Leyton with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Leyton can be reduced where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
• The majority freeholders or Management Companies in Leyton charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Leyton.
• Some Leyton 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 financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
• If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a time consuming process and delays many a Leyton conveyancing transaction. Where a reissued share is needed, do contact the company officers or managing agents (where relevant) for this sooner rather than later.

I am the proprietor of a a ground floor purpose built flat in Leyton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

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

An example of a Freehold Enfranchisement decision for a Leyton flat 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 was in relation to 2 flats. The remaining number of years on the lease was 72.02 years.

Leasehold Conveyancing in Leyton - Examples of Questions you should consider Prior to buying

It would be a good idea to enquire if the the lease contains any onerous restrictions in the lease. By way of example some leases prohibit pets being allowed in certain buildings in Leyton. If you like the apartmentin Leyton but your cat is not allowed to make the move with you then you have a very hard choice. How much is the annual maintenance fee and ground rent?