I would like to sublet my leasehold apartment in Upton Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Upton Park do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I’m about to sell my 2 bed apartment in Upton Park.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold flat in Upton Park. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Upton Park who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Upton Park conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of flats in Upton Park both have in the region of 50 years unexpired on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Upton Park is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less marketable. 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 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 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 Upton Park 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 any new 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.

Can you provide any advice for leasehold conveyancing in Upton Park with the aim of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Upton Park can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• The majority freeholders or managing agents in Upton Park levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Upton Park.
• If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
• If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Arranging a replacement share certificate can be a time consuming process and slows down many a Upton Park conveyancing deal. If a reissued share is needed, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Upton Park conveyancing firm to assist?

Most certainly. We can put you in touch with a Upton Park conveyancing firm who can help.

An example of a Lease Extension case for a Upton Park premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.

I own a ground floor flat in Upton Park, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Upton Park with over 90 years remaining are worth £258,000. The ground rent is £50 per annum. The lease ceases on 21st October 2105

With 79 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.