Fixed-fee leasehold conveyancing in Leytonstone:

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Leytonstone leasehold conveyancing: Q and A’s

I am hoping to complete next month on a studio apartment in Leytonstone. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

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

  • Defining your rights in relation to common areas in the building.For instance, does the lease contain a right of way over a path or staircase?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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 sinking fund?
  • Repair and maintenance of the flat
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Leytonstone please enquire of your lawyer in advance of your conveyancing in Leytonstone

    • Estate agents have just been given the go-ahead to market my basement apartment in Leytonstone.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should clear 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 until 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. This will smooth the conveyancing process.

    Back In 2005, I bought a leasehold flat in Leytonstone. Conveyancing and Barnsley Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Leytonstone who previously acted has now retired.Do I pay?

    First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Leytonstone conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Do you have any advice for leasehold conveyancing in Leytonstone with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Leytonstone can be reduced if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Leytonstone state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer before hand.
  • A minority of Leytonstone 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 obtain 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Arranging a re-issued share certificate can be a lengthy process and frustrates many a Leytonstone home move. Where a reissued share is necessary, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.

    • All being well we will complete the sale of our £225000 apartment in Leytonstone in nine days. The management company has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Leytonstone?

    Leytonstone conveyancing on leasehold apartments more often than not necessitates the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to assist. They are at liberty levy 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 over three hundred pounds, in some situations it is above £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is demanded if you want to sell the property.

    After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Leytonstone. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

    An example of a Freehold Enfranchisement decision for a Leytonstone property is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case affected 2 flats. The the unexpired residue of the current lease was 73.92 years.

    Other Topics

    Lease Extensions in Leytonstone