Due to sign contracts shortly on a garden flat in Wapping. Conveyancing lawyers assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the property. This will be the apartment itself but could also include a loft or cellar if appropriate.
• Will you be prohibited or prevented from having pets in the property?
• You must be told what constitutes a Nuisance in the lease
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• What options are open to you if a neighbour is in violation of a provision in their lease?

I’m about to sell my ground floor flat in Wapping.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you pay 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.

Can you offer any advice when it comes to choosing a Wapping conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Wapping conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Wapping 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:

• How experienced is the firm with lease extension legislation?
• If the firm is not ALEP accredited then why not?

Do you have any advice for leasehold conveyancing in Wapping from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Wapping can be reduced where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
• Many landlords or managing agents in Wapping charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Wapping.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Wapping leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such alterations. Should you fail to have the approvals to hand do not contact the landlord without checking with your solicitor in the first instance.
• If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming formality and frustrates many a Wapping home move. If a reissued share certificate is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I am the registered owner of a first floor flat in Wapping. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

You certainly can. We can put you in touch with a Wapping conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Wapping residence is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The unexpired lease term was 107 years.

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

There is nothing unique about leasehold conveyancing in Wapping. All leases are individual and legal mistakes in the legal wording 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
• Insurance obligations
• 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 could 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. Yorkshire Building Society, Skipton Building Society, and Aldermore all have express requirements 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 provide security, forcing the buyer to withdraw.

I bought a ground floor flat in Wapping, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Wapping with a long lease are worth £210,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2103

With 77 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.