I am in need of some leasehold conveyancing in North East London. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in North East London - 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.

There are only Seventy years left on my lease in North East London. I now want to extend my lease but my landlord is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have done all that could be expected to locate the lessor. On the whole a specialist may be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering North East London.

Back In 2008, I bought a leasehold house in North East London. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in North East London who previously acted has now retired.What should I do?

The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a North East London conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in North East London which have approximately forty five years unexpired on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in North East London is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with North East London conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to appointing a North East London conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a North East London conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non North East London conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

North East London Leasehold Conveyancing - A selection of Queries before buying

It would be sensible to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to every day issues such as the upkeep of the communal areas. Ask other tenants whether they are happy with them. Finally, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what it includes. Is there a share of the freehold? You should be aware if it is less than eighty years it will impact the salability of the apartment. Check with your bank that they are willing to lend given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you would be required to have owned the property for two years in order to be entitled to extend the lease.

Other Topics

Lease Extensions in North East London