Frank (my husband) and I may need to sub-let our Spitalfields ground floor flat temporarily due to a new job. We instructed a Spitalfields conveyancing firm in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Spitalfields do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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.

I have just appointed agents to market my 2 bed apartment in Spitalfields.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – Do I pay up?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am looking at a two apartments in Spitalfields both have about 50 years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Spitalfields is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Spitalfields conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am employed by a busy estate agent office in Spitalfields where we have witnessed a number of flat sales derailed due to short leases. I have received inconsistent advice from local Spitalfields conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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.

Completion in due on the disposal of our £ 400000 maisonette in Spitalfields next Friday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Spitalfields?

Spitalfields conveyancing on leasehold flats usually necessitates the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to complete the sale of your home.

I am the leaseholder of a two-bedroom flat in Spitalfields. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?

Absolutely. We can put you in touch with a Spitalfields conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Spitalfields premises is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The unexpired term was 107 years.

Spitalfields Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

You should want to find out as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the communal areas. Don't be afraid to ask other people if they are happy with them. On a final note, find out the dates that the maintenance charges are due to the appropriate party and precisely what it includes. Are there any major works in the planning that will likely add a premium to the maintenance costs? Be sure to find out if there are any onerous restrictions in the lease. By way of example it is very common in Spitalfields leases that pets are not allowed in in a block in Spitalfields. If you like the apartmentin Spitalfields however your cat is not allowed to move with you then you will be faced hard determination.