I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Walthamstow. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Walthamstow are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Walthamstow in which case you should be looking for a Walthamstow conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.

I own a leasehold house in Walthamstow. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Walthamstow who acted for me is not around.Any advice?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Walthamstow conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a reputable estate agency in Walthamstow where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Walthamstow conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 has to be done before, or simultaneously with 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 buyer.

Can you offer any advice when it comes to choosing a Walthamstow conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (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 recommend that you talk with two or three firms including non Walthamstow conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• Can they put you in touch with client in Walthamstow who can give a testimonial?

After months of correspondence we simply can't 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 certainly. We are happy to put you in touch with a Walthamstow conveyancing firm who can help.

An example of a Freehold Enfranchisement decision 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 related to 2 flats. The the unexpired residue of the current lease was 72.02 years.

In relation to leasehold conveyancing in Walthamstow what are the most common lease problems?

Leasehold conveyancing in Walthamstow is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

Other Topics

Lease Extensions in Walthamstow