I am hoping to complete next month on a basement flat in Shadwell. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

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

• You should receive a copy of the lease

The physical extent of the property. This will be the flat itself but could also incorporate a roof space or cellar if appropriate.

Does the lease require carpeting throughout thus preventing wood flooring?

Are pets allowed in the flat?

Repair and maintenance of the flat

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

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 For details of the information to be included in your report on your leasehold property in Shadwell please enquire of your solicitor in advance of your conveyancing in Shadwell

Estate agents have just been given the go-ahead to market my basement flat in Shadwell.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – what should I do?

It best that you 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 management companies 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 hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Shadwell. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Shadwell ?

The majority of houses in Shadwell are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Shadwell in which case you should be shopping around for a Shadwell conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 flat in Shadwell next Monday . The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Shadwell?

Shadwell conveyancing on leasehold flats nine out of ten times involves fees being levied by management companies :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Shadwell
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Shadwell leasehold premises is £350. For Shadwell conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I have had difficulty in trying to purchase the freehold in Shadwell. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.

An example of a Freehold Enfranchisement case for a Shadwell residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The the unexpired residue of the current lease was 101.61 years.

What are the frequently found problems that you encounter in leases for Shadwell properties?

Leasehold conveyancing in Shadwell is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Chelsea Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Other Topics

Lease Extensions in Shadwell