Experts for Leasehold Conveyancing in Romford

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When it comes to leasehold conveyancing in Romford, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , Birmingham Midshires or Nationwide be sure to choose a lawyer on their panel. Feel free to use our search tool

Romford leasehold conveyancing: Q and A’s

There are only 72 years unexpired on my lease in Romford. I am keen to extend my lease but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the lessor. In some cases a specialist should be useful to try and locate and to produce an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Romford.

Looking forward to complete next month on a basement flat in Romford. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Romford 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
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the property. This will be the flat itself but could also include a loft or basement if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Romford please ask your solicitor in advance of your conveyancing in Romford

    • I have just started marketing my garden flat in Romford.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

    It best that you 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 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 tempted by the attractive purchase price for a couple of flats in Romford which have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

    A lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

    Can you provide any top tips for leasehold conveyancing in Romford from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Romford can be avoided if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Romford charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Romford.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Romford state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you dont have the approvals to hand you should not contact the landlord without contacting your conveyancer before hand.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 reveal the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a re-issued share certificate is often a lengthy process and slows down many a Romford home move. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Romford conveyancing firm to assist?

    Most definitely. We can put you in touch with a Romford conveyancing firm who can help.

    An example of a Lease Extension decision for a Romford property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.

    Other Topics

    Lease Extensions in Romford