I have just appointed agents to market my garden apartment in Woodford.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – what should I do?

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 attracted to a couple of flats in Woodford which have about fifty years unexpired on the lease term. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to appointing a Woodford conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Woodford 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 talk with two or three firms including non Woodford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?
• Can they put you in touch with client in Woodford who can give a testimonial?

Do you have any advice for leasehold conveyancing in Woodford with the purpose of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Woodford can be avoided if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Woodford leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you dont have the approvals to hand do not contact the landlord without contacting your conveyancer in the first instance.
• If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
• If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a lengthy formality and slows down many a Woodford conveyancing transaction. Where a reissued share certificate is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is important at an early stage 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.

My wife and I have hit a brick wall in trying to purchase the freehold in Woodford. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes 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 Woodford flat 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 the number of years remaining on the existing lease(s) was 69.26 years.

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

There is nothing unique about leasehold conveyancing in Woodford. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have 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. Barclays , Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions 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 grant the mortgage, forcing the purchaser to pull out.

Leasehold Conveyancing in Woodford - A selection of Questions you should ask Prior to Purchasing

How much is the service charge and ground rent on the property?