Guaranteed fixed fees for Leasehold Conveyancing in Leyton

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Recently asked questions relating to Leyton leasehold conveyancing

I am in need of some leasehold conveyancing in Leyton. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Leyton - then the leasehold title will always include the basic details 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.

I only have Fifty years remaining on my lease in Leyton. I now want to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the lessor. On the whole a specialist would be helpful to try and locate and prepare an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Leyton.

I work for a busy estate agency in Leyton where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Leyton conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension process for the buyer?

Provided that the seller has owned the lease 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. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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.

Do you have any top tips for leasehold conveyancing in Leyton from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Leyton can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority freeholders or managing agents in Leyton charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Leyton.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Leyton leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such alterations. Should you dont have the approvals to hand you should not contact the landlord without checking with your conveyancer in the first instance.
  • Some Leyton leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Obtaining a replacement share certificate can be a time consuming process and slows down many a Leyton conveyancing transaction. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £475000 maisonette in Leyton on Tuesday in a week. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Leyton?

    Leyton conveyancing on leasehold apartments often requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality one has no option but to pay whatever is demanded if you want to complete the sale of your home.

    I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Leyton conveyancing firm to represent me?

    in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to calculate the price.

    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 affected 2 flats. The the unexpired term as at the valuation date was 72.02 years.

    Other Topics

    Lease Extensions in Leyton