I am in need of some leasehold conveyancing in Little Ilford. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Little Ilford - then the leasehold title will always include the short particulars 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 am intending to sublet my leasehold flat in Little Ilford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Little Ilford conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party before subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I have just appointed agents to market my garden apartment in Little Ilford.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Little Ilford. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Little Ilford ?

Most houses in Little Ilford are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Little Ilford so you should seriously consider shopping around for a Little Ilford conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two apartments in Little Ilford both have in the region of 50 years remaining on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Little Ilford is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Little Ilford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Little Ilford. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

An example of a Freehold Enfranchisement matter before the tribunal for a Little Ilford premises is 9 Granville Road in June 2014. The tribunal determines the enfranchisement price payable by the applicants for the freehold was £32,548 This case affected 5 flats. The the unexpired term as at the valuation date was 73.8 years.

Other Topics

Lease Extensions in Little Ilford