Fixed-fee leasehold conveyancing in Limehouse:

Get a Quote

Whether you are buying or selling leasehold flat in Limehouse, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Limehouse conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Limehouse

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Limehouse. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Limehouse are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Limehouse so you should seriously consider looking for a Limehouse conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder 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 changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am employed by a busy estate agent office in Limehouse where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Limehouse conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 has to be done 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 purchaser.

What advice can you give us when it comes to finding a Limehouse conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Limehouse conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Limehouse conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Limehouse who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Limehouse with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Limehouse can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Limehouse levy fees for supplying management packs for a leasehold premises. 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 accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Limehouse.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or settle 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Obtaining a replacement share certificate can be a lengthy formality and delays many a Limehouse home move. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Limehouse. Can we issue an application to the Residential Property Tribunal Service?

    Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the premium.

    An example of a Freehold Enfranchisement case for a Limehouse property is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.

    When it comes to leasehold conveyancing in Limehouse what are the most frequent lease defects?

    Leasehold conveyancing in Limehouse is not unique. All leases are unique and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Limehouse