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Recently asked questions relating to South Woodford leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in South Woodford. I am keen to get lease extension but my landlord is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. On the whole an enquiry agent would be helpful to try and locate and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing South Woodford.

I am hoping to sign contracts shortly on a garden flat in South Woodford. Conveyancing solicitors inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the property itself but could also incorporate a roof space or basement if applicable.
  • Setting out your legal entitlements in respect of the communal areas in the block.For example, does the lease provide for a right of way over an accessway or staircase?
  • Whether your lease has a provision for a sinking fund?
  • 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. For a comprehensive list of information to be contained in your report on your leasehold property in South Woodford please enquire of your solicitor in ahead of your conveyancing in South Woodford

    • I am tempted by the attractive purchase price for a two maisonettes in South Woodford which have in the region of 50 years left on the lease term. should I be concerned?

    There are plenty of short leases in South Woodford. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area

    I am a negotiator for a busy estate agent office in South Woodford where we see a number of leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local South Woodford conveyancing solicitors. Please can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

    As long as the seller has been the owner 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

    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 purchaser.

    Do you have any top tips for leasehold conveyancing in South Woodford with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in South Woodford can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in South Woodford state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you dont have the consents in place do not contact the landlord without checking with your solicitor before hand.
  • A minority of South Woodford leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming formality and frustrates many a South Woodford home move. Where a new share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I inherited a ground-floor 1950’s flat in South Woodford. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

    Most definitely. We can put you in touch with a South Woodford conveyancing firm who can help.

    An example of a Lease Extension case 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 affected 1 flat. The remaining number of years on the lease was 71.2 years.

    Other Topics

    Lease Extensions in South Woodford