Due to sign contracts shortly on a garden flat in Plaistow. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

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

• Setting out your legal entitlements in respect of common areas in the block.By way of example, does the lease contain a right of way over a path or staircase?

I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Plaistow. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Plaistow ?

Most houses in Plaistow are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Plaistow in which case you should be shopping around for a Plaistow conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.

My wife and I purchased a leasehold house in Plaistow. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Plaistow who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Plaistow conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of flats in Plaistow which have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Plaistow is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Plaistow 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

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

if there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the amount due.

An example of a Freehold Enfranchisement matter before the tribunal for a Plaistow flat is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268

What are the frequently found defects that you witness in leases for Plaistow properties?

Leasehold conveyancing in Plaistow is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• 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. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.