Having had my offer accepted I require leasehold conveyancing in Stratford. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Stratford - 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.

My fiance and I may need to let out our Stratford basement flat for a while due to a new job. We used a Stratford conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Stratford conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining permission. The consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Stratford. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Stratford are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Stratford in which case you should be looking for a Stratford conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of apartments in Stratford which have in the region of fifty years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Stratford is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 premises 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 Stratford 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.

Completion in due on the disposal of our £ 350000 maisonette in Stratford in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stratford?

Stratford conveyancing on leasehold flats usually requires the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to do so. They are at liberty charge a reasonable charge for answering questions 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 transactions it exceeds £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to sell the property.

Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Stratford. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.

An example of a Freehold Enfranchisement case for a Stratford property 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 affected 2 flats. The unexpired term was 72.02 years.

I acquired a leasehold flat in Stratford, conveyancing having been completed 1999. How much will my lease extension cost? Corresponding flats in Stratford with a long lease are worth £179,000. The ground rent is £55 yearly. The lease ends on 21st October 2099

You have 73 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.