Fixed-fee leasehold conveyancing in Redbridge:

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Recently asked questions relating to Redbridge leasehold conveyancing

Due to sign contracts shortly on a garden flat in Redbridge. Conveyancing lawyers assured me that they report fully on Monday. 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 expires, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Repair and maintenance of the flat
  • 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
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? 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

    • Estate agents have just been given the go-ahead to market my 2 bed flat in Redbridge.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – Do I pay up?

    The sensible thing to do is clear 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 management companies 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. This will smooth the conveyancing process.

    I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Redbridge. Conveyancing advisers have are about to be appointed. Will they explain the issues?

    The majority of houses in Redbridge are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Redbridge so you should seriously consider shopping around for a Redbridge conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.

    I am attracted to a two apartments in Redbridge which have in the region of fifty years left on the leases. 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 premises for a period of time. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Redbridge with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Redbridge can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • Many freeholders or managing agents in Redbridge charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for 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 delay in leasehold conveyancing in Redbridge.
  • Some Redbridge leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a re-issued share certificate can be a lengthy process and delays many a Redbridge conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

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

    if there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the price payable.

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

    Other Topics

    Lease Extensions in Redbridge