I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Haggerston. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Haggerston are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Haggerston so you should seriously consider shopping around for a Haggerston conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I am attracted to a couple of flats in Haggerston which have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Haggerston. The lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold flat in Haggerston. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to choosing a Haggerston conveyancing firm to carry out our lease extension conveyancing?

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

• How experienced is the practice with lease extension legislation?
• How many lease extensions has the firm completed in Haggerston in the last twenty four months?

Can you provide any advice for leasehold conveyancing in Haggerston from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Haggerston can be reduced where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
• Many landlords or managing agents in Haggerston levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Haggerston.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Haggerston leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such changes. Should you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor in the first instance.
• If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled.
• If you hold a share in a the freehold, you should make sure that you hold the original share document. Arranging a re-issued share certificate is often a lengthy process and frustrates many a Haggerston home move. Where a new share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Haggerston. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the sum to be paid.

An example of a Lease Extension decision for a Haggerston property is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The unexpired lease term was 72.39 years.

Haggerston Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

It is important to be aware whether redecorating or some other significant cost is pending to be shared amongst the leasehold owners and will dramatically increase the the maintenance costs or result in a specific invoice.