Quality lawyers for Leasehold Conveyancing in Redbridge

Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Redbridge, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Redbridge leasehold conveyancing

My fiance and I may need to sub-let our Redbridge garden flat temporarily due to a new job. We instructed a Redbridge conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

A lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Redbridge do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Looking forward to exchange soon on a garden flat in Redbridge. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Redbridge should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • You must be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For a comprehensive list of information to be contained in your report on your leasehold property in Redbridge please enquire of your solicitor in ahead of your conveyancing in Redbridge

  • I’m about to sell my 2 bed apartment in Redbridge.Conveyancing solicitors are to be appointed soon but I have just received a yearly 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 am looking at a two flats in Redbridge both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Redbridge. The lease is a right 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 advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

    Can you provide any advice for leasehold conveyancing in Redbridge with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Redbridge can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
    • The majority landlords or managing agents in Redbridge charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Redbridge.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Redbridge state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the consents in place do not contact the landlord without checking with your lawyer first.
  • A minority of Redbridge leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible 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.

  • After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Redbridge. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to calculate the price payable.

    An example of a Freehold Enfranchisement case for a Redbridge property is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The remaining number of years on the lease was 65 and 61.

    Other Topics

    Lease Extensions in Redbridge