Having had my offer accepted I require leasehold conveyancing in Wanstead. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Wanstead - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Wanstead. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

Most houses in Wanstead are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Wanstead in which case you should be looking for a Wanstead conveyancing solicitor and be sure that they are used to advising 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 will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

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

If you are instructing a property lawyer for lease extension works (regardless if they are a Wanstead conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Wanstead conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?

Completion in due on the disposal of our £400000 flat in Wanstead in 5 days. The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wanstead?

Wanstead conveyancing on leasehold maisonettes usually requires the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are entitled levy a reasonable charge for answering enquiries 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 cases it is above £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.

I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Wanstead conveyancing firm to assist?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.

An example of a Freehold Enfranchisement case for a Wanstead residence is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case related to 2 flats. The the unexpired term as at the valuation date was 73.92 years.

In relation to leasehold conveyancing in Wanstead what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Wanstead. All leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

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. Santander, Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Other Topics

Lease Extensions in Wanstead