I am on look out for some leasehold conveyancing in Stepney. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Stepney - 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 have just started marketing my ground floor apartment in Stepney.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 managing agents will not acknowledge the buyer unless 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've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Stepney. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

The majority of houses in Stepney are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Stepney so you should seriously consider shopping around for a Stepney conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

What are your top tips when it comes to choosing a Stepney conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Stepney conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Stepney conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• Can they put you in touch with client in Stepney who can give a testimonial?
• What are the charges for lease extension conveyancing?

I own a ground floor flat in Stepney. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to assess the premium.

An example of a Freehold Enfranchisement matter before the tribunal for a Stepney residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The the unexpired term as at the valuation date was 101.61 years.

In relation to leasehold conveyancing in Stepney what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Stepney. All leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

I invested in buying a leasehold flat in Stepney, conveyancing formalities finalised 2004. How much will my lease extension cost? Comparable properties in Stepney with over 90 years remaining are worth £175,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2096

With 70 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.