Looking forward to sign contracts shortly on a studio apartment in Tokyngton. Conveyancing lawyers have said 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 Tokyngton should include some of the following:

• You should receive a copy of the lease

I work for a long established estate agent office in Tokyngton where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Tokyngton conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 advice for leasehold conveyancing in Tokyngton from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Tokyngton can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
• Some Tokyngton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.

We expect to complete the sale of our £275000 maisonette in Tokyngton next Wednesday . The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Tokyngton?

Tokyngton conveyancing on leasehold maisonettes often involves the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to complete the sale of your home.

I have given up trying to purchase the freehold in Tokyngton. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most certainly. We are happy to put you in touch with a Tokyngton conveyancing firm who can help.

An example of a Lease Extension decision for a Tokyngton flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The the unexpired residue of the current lease was 74 years.

What makes a Tokyngton lease defective?

Leasehold conveyancing in Tokyngton is not unique. Most leases is drafted differently and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.