Leasehold Conveyancing in Snaresbrook - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Snaresbrook

I am in need of some leasehold conveyancing in Snaresbrook. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Snaresbrook - then the leasehold title will always include the short particulars 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.

I wish to sublet my leasehold apartment in Snaresbrook. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in Snaresbrook do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Planning to sign contracts shortly on a basement flat in Snaresbrook. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • Whether the lease restricts you from letting out the flat, or having a home office for business
  • You should be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • 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 options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Snaresbrook please ask your conveyancer in advance of your conveyancing in Snaresbrook

    • I am looking at a two maisonettes in Snaresbrook both have in the region of fifty years unexpired on the lease term. Will this present a problem?

    A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

    I am a negotiator for a busy estate agency in Snaresbrook where we see a few leasehold sales derailed due to short leases. I have been given conflicting advice from local Snaresbrook conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    I have given up seeking a lease extension in Snaresbrook. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the sum to be paid.

    An example of a Freehold Enfranchisement case for a Snaresbrook flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The remaining number of years on the lease was 73.92 years.

    Other Topics

    Lease Extensions in Snaresbrook