Fixed-fee leasehold conveyancing in Woodford Green:

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Woodford Green, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Woodford Green leasehold conveyancing

I am on look out for some leasehold conveyancing in Woodford Green. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Woodford Green - 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.

Due to sign contracts shortly on a garden flat in Woodford Green. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the premises. This will be the apartment itself but might incorporate a loft or basement if appropriate.
  • Setting out your legal entitlements in relation to common areas in the building.E.G., does the lease include a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • Does the lease prevent you from subletting the property, or having a home office for business
  • 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 For details of the information to be included in your report on your leasehold property in Woodford Green please enquire of your solicitor in advance of your conveyancing in Woodford Green

    • I am a negotiator for a long established estate agency in Woodford Green where we have experienced a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Woodford Green conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    What are your top tips when it comes to finding a Woodford Green conveyancing practice to deal with our lease extension?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Woodford Green conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Woodford Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • If the firm is not ALEP accredited then why not?
  • What are the costs for lease extension work?

    • I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Woodford Green conveyancing firm to assist?

    Absolutely. We can put you in touch with a Woodford Green conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Woodford Green 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 related to 2 flats. The unexpired lease term was 69.26 years.

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

    Leasehold conveyancing in Woodford Green is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • 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

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Barclays Direct all have very detailed 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 grant the mortgage, forcing the buyer to withdraw.

    Other Topics

    Lease Extensions in Woodford Green