Having had my offer accepted I require leasehold conveyancing in Loughton. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Loughton - then the leasehold title will always include the short particulars 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.

I have just started marketing my 2 bed apartment in Loughton.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – what should I do?

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 managing agents 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. This will smooth the conveyancing process.

What are your top tips when it comes to choosing a Loughton conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Loughton conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Loughton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• What volume of lease extensions have they carried out in Loughton in the last twenty four months?

What are the legal fees for lease extension conveyancing?

Can you provide any advice for leasehold conveyancing in Loughton with the aim of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Loughton can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
• Many freeholders or managing agents in Loughton charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Loughton.

If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Loughton leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the consents to hand do not contact the landlord without checking with your conveyancer before hand.

Some Loughton leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.

You may think that you are aware of 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 where the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

All being well we will complete the sale of our £125000 garden flat in Loughton next week. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Loughton?

Loughton conveyancing on leasehold flats nine out of ten times results in administration charges invoiced by managing agents :

• Answering pre-contract enquiries
• Where consent is required before sale in Loughton
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Loughton leasehold premises is £350. For Loughton 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 required to supply answers.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Loughton conveyancing firm to help?

Absolutely. We are happy to put you in touch with a Loughton conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Loughton premises 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 the unexpired term as at the valuation date was 69.26 years.

Other Topics

Lease Extensions in Loughton