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

When it comes to leasehold conveyancing in Snaresbrook, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or NatWest make sure you choose a lawyer on their approved list. Find a Snaresbrook conveyancing lawyer with our search tool

Top Five Questions relating to Snaresbrook leasehold conveyancing

Due to exchange soon on a studio apartment in Snaresbrook. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • The total extent of the property. This will be the property itself but may include a loft or basement if applicable.
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Snaresbrook please enquire of your lawyer in advance of your conveyancing in Snaresbrook

  • I've recently bought a leasehold house in Snaresbrook. Am I liable to pay service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I am employed by a busy estate agent office in Snaresbrook where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Snaresbrook conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 simultaneously with completion of the sale.

    An alternative approach is to agree the lease extension with the freeholder 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 buyer.

    What advice can you give us when it comes to finding a Snaresbrook conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for your lease extension (regardless if they are a Snaresbrook conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Snaresbrook conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How familiar is the firm with lease extension legislation?
  • What are the costs for lease extension work?

  • Do you have any top tips for leasehold conveyancing in Snaresbrook with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Snaresbrook can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
    • The majority freeholders or Management Companies in Snaresbrook charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Snaresbrook.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Snaresbrook leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the paperwork to hand do not contact the landlord without contacting your conveyancer before hand.
  • A minority of Snaresbrook leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge 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 better to reveal the dispute as historic rather than ongoing.

  • I inherited a garden flat in Snaresbrook. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?

    Most certainly. We can put you in touch with a Snaresbrook conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Snaresbrook premises is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case related to 2 flats. The unexpired term was 73.92 years.

    Other Topics

    Lease Extensions in Snaresbrook