Experts for Leasehold Conveyancing in Old Ford

While any conveyancing practice can theoretically deal with your leasehold conveyancing in Old Ford, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Old Ford leasehold conveyancing

Helen (my wife) and I may need to let out our Old Ford ground floor flat temporarily due to taking a sabbatical. We used a Old Ford conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Old Ford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Back In 2001, I bought a leasehold flat in Old Ford. Conveyancing and Barclays mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Old Ford who previously acted has now retired.Do I pay?

First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Old Ford 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 rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a reputable estate agent office in Old Ford where we have witnessed a few flat sales put at risk as a result of short leases. I have received contradictory information from local Old Ford conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to appointing a Old Ford conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Old Ford conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Old Ford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • How experienced is the practice with lease extension legislation?
  • How many lease extensions have they carried out in Old Ford in the last twenty four months?

Can you provide any top tips for leasehold conveyancing in Old Ford with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Old Ford can be bypassed where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ representatives.
  • The majority freeholders or managing agents in Old Ford levy fees for providing management packs for a leasehold property. 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 reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Old Ford.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Old Ford leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals in place do not contact the landlord without contacting your lawyer first.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate can be a time consuming process and delays many a Old Ford conveyancing deal. Where a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

I am the proprietor of a garden flat in Old Ford. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to assess the sum to be paid.

An example of a Freehold Enfranchisement decision for a Old Ford residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.

I inherited a 1 bedroom flat in Old Ford, conveyancing having been completed 2001. How much will my lease extension cost? Comparable properties in Old Ford with over 90 years remaining are worth £256,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2087

With only 61 years remaining on your lease the likely cost is going to span between £20,000 and £23,000 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.