I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Plaistow. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Plaistow are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Plaistow so you should seriously consider looking for a Plaistow conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

Back In 2004, I bought a leasehold flat in Plaistow. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Plaistow who acted for me is not around.Any advice?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Plaistow conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, 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 attracted to a couple of apartments in Plaistow which have in the region of 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

I am employed by a busy estate agency in Plaistow where we have witnessed a few flat sales jeopardised due to short leases. I have been given conflicting advice from local Plaistow conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is 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 buyer.

I am the leaseholder of a first floor flat in Plaistow. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

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

An example of a Freehold Enfranchisement case for a Plaistow premises 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 common defects that you witness in leases for Plaistow properties?

There is nothing unique about leasehold conveyancing in Plaistow. Most leases are unique 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 property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Coventry Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Plaistow Leasehold Conveyancing - Examples of Queries Prior to Purchasing

How many years are left on the lease?