Leasehold Conveyancing in Woodford - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Woodford leasehold conveyancing

I am intending to sublet my leasehold apartment in Woodford. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Woodford conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of prior consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am hoping to sign contracts shortly on a leasehold property in Woodford. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Woodford should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease ends, and informed 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, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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
  • Whether your lease has a provision for a sinking fund?
  • 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 For a comprehensive list of information to be included in your report on your leasehold property in Woodford please ask your conveyancer in ahead of your conveyancing in Woodford

    • I’m about to sell my 2 bed flat in Woodford.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.

    Last month I purchased a leasehold property in Woodford. Do I have any liability for service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I am the proprietor of a first floor flat in Woodford. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

    Most certainly. We can put you in touch with a Woodford conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Woodford residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The remaining number of years on the lease was 69.26 years.

    In relation to leasehold conveyancing in Woodford what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Woodford. Most leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Woodford