Guaranteed fixed fees for Leasehold Conveyancing in Stratford

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Stratford, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Stratford leasehold conveyancing: Q and A’s

My partner and I may need to let out our Stratford ground floor flat temporarily due to taking a sabbatical. We instructed a Stratford conveyancing firm in 2003 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Stratford do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I own a leasehold house in Stratford. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Stratford who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Stratford conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two flats in Stratford which have in the region of 50 years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property 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 seek professional assistance from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to appointing a Stratford conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Stratford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Stratford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If they are not ALEP accredited then why not?
  • What are the legal fees for lease extension work?

All being well we will complete the sale of our £ 250000 flat in Stratford next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stratford?

For the majority of leasehold sales in Stratford conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Answering conveyancing due diligence enquiries
  • Where consent is required before sale in Stratford
  • Supplying insurance information
  • 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 Stratford leasehold property is £350. For Stratford 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 supply answers.

Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Stratford. Can we issue an application to the Residential Property Tribunal Service?

Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the amount due.

An example of a Freehold Enfranchisement decision for a Stratford residence is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 72.02 years.

Leasehold Conveyancing in Stratford - A selection of Queries Prior to buying

    How much is the ground rent and service charge? The answer will be important as a) areas may result in problems in the building as the communal areas may start to deteriorate where maintenance are not paid for b) if the tenants have an issue with the managing agents you will need to have complete disclosure