Planning to exchange soon on a basement flat in Walthamstow Village. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Walthamstow Village. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Walthamstow Village are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Walthamstow Village so you should seriously consider shopping around for a Walthamstow Village conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

What advice can you give us when it comes to finding a Walthamstow Village conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Walthamstow Village conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Walthamstow Village conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?

All being well we will complete our sale of a £400000 flat in Walthamstow Village on Wednesday in a week. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Walthamstow Village?

Walthamstow Village conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has no choice but to pay whatever is demanded if you want to sell the property.

I have had difficulty in trying to reach an agreement for a lease extension in Walthamstow Village. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We can put you in touch with a Walthamstow Village conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Walthamstow Village residence is 32 Howard Road in June 2012. the Tribunal held that premium payable for the freehold reversion should be £35,825 This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 64 years.

When it comes to leasehold conveyancing in Walthamstow Village what are the most frequent lease defects?

Leasehold conveyancing in Walthamstow Village is not unique. Most leases are unique and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

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. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Britannia all have very detailed 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 provide security, obliging the buyer to withdraw.