Planning to exchange soon on a studio apartment in Waltham Abbey. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

• You should be sent a copy of the lease

The total extent of the property. This will be the flat itself but may include a roof space or cellar if appropriate.

Defining your rights in respect of the communal areas in the block.For example, does the lease include a right of way over an accessway or staircase?

Are you allowed to have a pet in the flat?

You should be told what constitutes a Nuisance in the lease

Responsibility for repairing the window frames

What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Waltham Abbey please ask your lawyer in ahead of your conveyancing in Waltham Abbey

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Waltham Abbey. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

Most houses in Waltham Abbey are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Waltham Abbey so you should seriously consider shopping around for a Waltham Abbey conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I am attracted to a two maisonettes in Waltham Abbey both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

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

If you are instructing a solicitor for your lease extension (regardless if they are a Waltham Abbey conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Waltham Abbey 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 helpful:

• How familiar is the practice with lease extension legislation?

How many lease extensions has the firm completed in Waltham Abbey in the last 12 months?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325000 flat in Waltham Abbey in seven days. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Waltham Abbey?

For the majority of leasehold sales in Waltham Abbey conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Waltham Abbey
• 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Waltham Abbey leasehold property is £350. For Waltham Abbey 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.

My wife and I have hit a brick wall in trying to purchase the freehold in Waltham Abbey. Can this matter be resolved via the Leasehold Valuation Tribunal?

You certainly can. We can put you in touch with a Waltham Abbey conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Waltham Abbey property 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 affected 2 flats. The the unexpired residue of the current lease was 69.26 years.

Other Topics

Lease Extensions in Waltham Abbey