Expecting to sign contracts shortly on a ground floor flat in Old Ford. Conveyancing lawyers assured 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 Old Ford should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Does the lease prevent you from letting out the flat, or working from home
• 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
• Changes to the flat (alterations and additions)
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

I have just started marketing my basement apartment in Old Ford.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is pay 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 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.

What are your top tips when it comes to choosing a Old Ford conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Old Ford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Old Ford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How experienced is the firm with lease extension legislation?
• What volume of lease extensions have they completed in Old Ford in the last twenty four months?

Do you have any advice for leasehold conveyancing in Old Ford with the purpose of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Old Ford can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
• The majority landlords or managing agents in Old Ford charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Old Ford.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Old Ford state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the consents to hand you should not communicate with the landlord without checking with your lawyer first.
• If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and frustrates many a Old Ford home move. If a reissued share is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’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 under 80 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I am the proprietor of a two-bedroom flat in Old Ford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

Most certainly. We can put you in touch with a Old Ford conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Old Ford premises 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.

What makes a Old Ford lease defective?

Leasehold conveyancing in Old Ford is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• 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

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

I inherited a 1 bedroom flat in Old Ford, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Old Ford with a long lease are worth £200,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2104

With just 78 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.