Fixed-fee leasehold conveyancing in Plaistow:

Leasehold conveyancing in Plaistow is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Plaistow and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Plaistow leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Plaistow. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Plaistow - 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 appointed agents to market my basement flat in Plaistow.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is pay 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 own a leasehold flat in Plaistow. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Plaistow who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Plaistow conveyancing solicitor 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.

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

  • Much of the frustration in leasehold conveyancing in Plaistow can be reduced if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
  • Many freeholders or managing agents in Plaistow charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Plaistow.
  • Some Plaistow 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 put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual 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 purchasers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate can be a time consuming process and slows down many a Plaistow home move. If a reissued share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • If all goes to plan we aim to complete the sale of our £175000 garden flat in Plaistow in 8 days. The managing agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Plaistow?

    Plaistow conveyancing on leasehold flats often necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are entitled levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    I am the leaseholder of a a ground floor purpose built flat in Plaistow. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the premium.

    An example of a Lease Extension decision for a Plaistow flat 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 affected 1 flat. The the unexpired residue of the current lease was 69.77 years.

    Other Topics

    Lease Extensions in Plaistow