Fixed-fee leasehold conveyancing in Plaistow:

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Common questions relating to Plaistow leasehold conveyancing

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Plaistow. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Plaistow ?

Most houses in Plaistow are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Plaistow in which case you should be shopping around for a Plaistow conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

I own a leasehold flat in Plaistow. Conveyancing and Santander mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Plaistow who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Plaistow conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Plaistow both have in the region of fifty years remaining on the lease term. should I be concerned?

There are plenty of short leases in Plaistow. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

Do you have any advice for leasehold conveyancing in Plaistow from the point of view of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Plaistow can be bypassed if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Plaistow leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. Where you fail to have the consents to hand do not communicate with the landlord without checking with your solicitor first.
  • A minority of Plaistow leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Organising a new share certificate can be a time consuming formality and delays many a Plaistow home move. Where a new share is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Plaistow conveyancing firm to assist?

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

    An example of a Lease Extension decision for a Plaistow residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The the unexpired residue of the current lease was 69.77 years.

    Are there common deficiencies that you come across in leases for Plaistow properties?

    There is nothing unique about leasehold conveyancing in Plaistow. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can 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 Nottingham Building Society 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 does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in Plaistow