I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Leyton. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Leyton ?

Most houses in Leyton are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Leyton so you should seriously consider looking for a Leyton conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

My wife and I purchased a leasehold flat in Leyton. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Leyton who acted for me is not around.What should I do?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Leyton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two flats in Leyton which have about fifty years unexpired on the leases. should I be concerned?

There are plenty of short leases in Leyton. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold flat in Leyton. Am I liable to pay service charges relating to a period prior to 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. It is an essential part 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).

Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Leyton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to calculate the sum to be paid.

An example of a Freehold Enfranchisement decision for a Leyton premises is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case related to 2 flats. The unexpired term was 72.02 years.

What makes a Leyton lease problematic?

Leasehold conveyancing in Leyton is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Barnsley Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Other Topics

Lease Extensions in Leyton