Leasehold Conveyancing in Walthamstow - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Walthamstow, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, RBS or Bradford & Bingley be sure to find a lawyer on their approved list. Find a Walthamstow conveyancing lawyer with our search tool

Walthamstow leasehold conveyancing Example Support Desk Enquiries

I am hoping to sign contracts shortly on a ground floor flat in Walthamstow. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • The physical extent of the premises. This will be the flat itself but may include a roof space or cellar if applicable.
  • Defining your legal entitlements in respect of common areas in the block.For instance, does the lease grant a right of way over a path or hallways?
  • Does the lease prevent you from renting out the property, or working from home
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions) For a comprehensive list of information to be contained in your report on your leasehold property in Walthamstow please enquire of your solicitor in advance of your conveyancing in Walthamstow

  • I have just started marketing my 2 bed flat in Walthamstow.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – 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 managing agents 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.

    I work for a reputable estate agent office in Walthamstow where we have experienced a number of flat sales put at risk as a result of short leases. I have been given conflicting advice from local Walthamstow conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    Provided that 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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

    An alternative approach is 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.

    If all goes to plan we aim to complete the disposal of our £250000 maisonette in Walthamstow on Wednesday in a week. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Walthamstow?

    Walthamstow conveyancing on leasehold maisonettes typically results in administration charges invoiced by landlords agents :

    • Answering pre-contract questions
    • Where consent is required before sale in Walthamstow
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Walthamstow leasehold property is £350. For Walthamstow conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

    I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Walthamstow conveyancing firm to help?

    Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the amount due.

    An example of a Freehold Enfranchisement decision for a Walthamstow flat 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 remaining number of years on the lease was 72.02 years.

    What are the common deficiencies that you see in leases for Walthamstow properties?

    Leasehold conveyancing in Walthamstow is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • 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 could 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. Yorkshire Building Society, Coventry Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Walthamstow