Estate agents have just been given the go-ahead to market my ground floor apartment in Wapping.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – Do I pay up?

The sensible thing to do is discharge the service charge 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 management companies will not acknowledge the buyer unless 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 am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Wapping. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Wapping are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Wapping so you should seriously consider looking for a Wapping conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am looking at a couple of maisonettes in Wapping both have in the region of 50 years left on the leases. Do I need to be concerned?

There are plenty of short leases in Wapping. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to finding a Wapping conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Wapping conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Wapping conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If they are not ALEP accredited then why not?

How many lease extensions has the firm carried out in Wapping in the last twenty four months?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £425000 maisonette in Wapping on Wednesday in a week. The freeholder has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wapping?

Wapping conveyancing on leasehold flats typically results in fees being invoiced by management companies :

• Answering pre-exchange enquiries
• Where consent is required before sale in Wapping
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Wapping leasehold property is £350. For Wapping 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 supply answers.

Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Wapping. Can we issue an application to the Residential Property Tribunal Service?

if there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the price.

An example of a Freehold Enfranchisement case for a Wapping flat 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 affected 41 flats. The the number of years remaining on the existing lease(s) was 107 years.

Other Topics

Lease Extensions in Wapping