I am on look out for some leasehold conveyancing in Leytonstone. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Leytonstone - 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 2 bed flat in Leytonstone.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is pay the invoice 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 until 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've recently bought a leasehold house in Leytonstone. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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 ensure 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).

What are your top tips when it comes to choosing a Leytonstone conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Leytonstone conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Leytonstone conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• Can they put you in touch with client in Leytonstone who can give a testimonial?
• What are the legal fees for lease extension conveyancing?

Do you have any top tips for leasehold conveyancing in Leytonstone from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Leytonstone can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers.
• The majority landlords or Management Companies in Leytonstone charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Leytonstone.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Leytonstone leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such alterations. Should you dont have the approvals to hand do not contact the landlord without checking with your lawyer in advance.
• A minority of Leytonstone leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet 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.
• You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Leytonstone. Can this matter be resolved via the Leasehold Valuation Tribunal?

in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price payable.

An example of a Freehold Enfranchisement case for a Leytonstone premises is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case related to 2 flats. The remaining number of years on the lease was 73.92 years.

Leytonstone Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

Are any of leasehold owners in dispute over their service charge payments? The prefered form of lease arrangement is a share of the freehold. In this scenario the leaseholders enjoy being in charge if their destiny and although a managing agent is often retained where it is larger than a house conversion, the managing agent retained by the leaseholders. It is important to be aware whether window replacement or some other major work is coming up that will be shared by the leasehold owners and will dramatically increase the the maintenance costs or necessitate a one time payment.