Fixed-fee leasehold conveyancing in Wanstead:

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Wanstead, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Wanstead leasehold conveyancing

I am in need of some leasehold conveyancing in Wanstead. Before I set the wheels in motion I require certainty 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.

Expecting to sign contracts shortly on a ground floor flat in Wanstead. Conveyancing solicitors assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

  • Setting out your rights in respect of common areas in the block.For example, does the lease grant a right of way over an accessway or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You need to be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be contained in your report on your leasehold property in Wanstead please ask your lawyer in ahead of your conveyancing in Wanstead

    • I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Wanstead. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Wanstead ?

    Most houses in Wanstead are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Wanstead in which case you should be shopping around for a Wanstead conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee 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’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.

    I am attracted to a couple of maisonettes in Wanstead which have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

    Do you have any top tips for leasehold conveyancing in Wanstead from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Wanstead can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
    • The majority landlords or Management Companies in Wanstead charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Wanstead.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Wanstead state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. Should you fail to have the consents to hand do not contact the landlord without checking with your solicitor in the first instance.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and delays many a Wanstead conveyancing transaction. If a new share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • After years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Wanstead. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.

    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 number of years remaining on the existing lease(s) was 73.92 years.

    Other Topics

    Lease Extensions in Wanstead