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Common questions relating to Walthamstow leasehold conveyancing

My partner and I may need to let out our Walthamstow ground floor flat for a while due to a new job. We instructed a Walthamstow conveyancing firm in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

A lease governs the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Walthamstow do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Planning to sign contracts shortly on a basement flat in Walthamstow. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Walthamstow should include some of the following:

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Are you allowed to have a pet in the flat?
  • Whether your lease has a provision for a reserve fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Walthamstow please enquire of your lawyer in advance of your conveyancing in Walthamstow

    • I have just appointed agents to market my ground floor apartment in Walthamstow.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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. This will smooth the conveyancing process.

    Can you offer any advice when it comes to finding a Walthamstow conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for your lease extension (regardless if they are a Walthamstow conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Walthamstow conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How experienced is the firm with lease extension legislation?
  • What are the legal fees for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Walthamstow with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Walthamstow can be reduced if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Walthamstow state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. Where you dont have the approvals in place do not communicate with the landlord without checking with your lawyer in advance.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate is often a lengthy process and delays many a Walthamstow conveyancing transaction. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. 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 identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Walthamstow. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We can put you in touch with a Walthamstow conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Walthamstow premises 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 remaining number of years on the lease was 72.02 years.

    Other Topics

    Lease Extensions in Walthamstow