I am in need of some leasehold conveyancing in South Woodford. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and most are in South Woodford - 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.

Harry (my fiance) and I may need to let out our South Woodford 1st floor flat for a while due to a new job. We instructed a South Woodford conveyancing firm in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

The lease dictates relations between the landlord and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in South Woodford do not contain strict prohibition on subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I am tempted by the attractive purchase price for a two flats in South Woodford which have in the region of 50 years remaining on the lease term. 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 shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in South Woodford with the aim of saving time on the sale process?

• Much of the delay in leasehold conveyancing in South Woodford can be reduced where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
• Many freeholders or Management Companies in South Woodford levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information 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 usual reason for frustration in leasehold conveyancing in South Woodford.

In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in South Woodford state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you fail to have the consents to hand do not contact the landlord without contacting your conveyancer in the first instance.

If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy process and slows down many a South Woodford home move. Where a reissued share is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

You believe that you know the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450000 apartment in South Woodford in 10 days. The management company has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in South Woodford?

South Woodford conveyancing on leasehold maisonettes ordinarily results in administration charges levied by management companies :

• Completing conveyancing due diligence questions
• Where consent is required before sale in South Woodford
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for South Woodford leasehold property is £350. For South Woodford 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 attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a South Woodford conveyancing firm to help?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.

An example of a Lease Extension decision for a South Woodford flat is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case related to 1 flat. The the unexpired residue of the current lease was 71.2 years.

Other Topics

Lease Extensions in South Woodford