Quality lawyers for Leasehold Conveyancing in Silvertown

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Common questions relating to Silvertown leasehold conveyancing

I am on look out for some leasehold conveyancing in Silvertown. Before I get started I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Silvertown - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Looking forward to complete next month on a ground floor flat in Silvertown. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Setting out your rights in respect of common areas in the block.E.G., does the lease include a right of way over an accessway or hallways?
  • Whether the lease restricts you from letting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Silvertown please enquire of your lawyer in advance of your conveyancing in Silvertown

  • I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently found out 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 Silvertown. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

    The majority of houses in Silvertown 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 Silvertown so you should seriously consider shopping around for a Silvertown conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

    Do you have any top tips for leasehold conveyancing in Silvertown from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Silvertown can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
    • Many freeholders or Management Companies in Silvertown charge for supplying management packs for a leasehold premises. You or your lawyers should discover 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 obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Silvertown.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Silvertown leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such works. Should you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor in the first instance.
  • A minority of Silvertown leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve 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 will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275000 flat in Silvertown in just under a week. The management company has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Silvertown?

    Silvertown conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be willing to do so. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.

    I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Silvertown conveyancing firm to act on my behalf?

    in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the premium.

    An example of a Lease Extension matter before the tribunal for a Silvertown residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired term was 69.77 years.

    Other Topics

    Lease Extensions in Silvertown