Leasehold Conveyancing in Shadwell - Get a Quote from the leasehold experts approved by your lender

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Shadwell leasehold conveyancing Example Support Desk Enquiries

Jane (my partner) and I may need to rent out our Shadwell garden flat temporarily due to a new job. We instructed a Shadwell conveyancing firm in 2001 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Shadwell do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates 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 consent.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Shadwell. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Shadwell are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Shadwell in which case you should be shopping around for a Shadwell conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I've recently bought a leasehold property in Shadwell. Am I liable to pay service charges for periods before completion of my purchase?

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. Strange as it may seem, 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 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).

All being well we will complete our sale of a £ 225000 maisonette in Shadwell in seven days. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Shadwell?

Shadwell conveyancing on leasehold apartments usually necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.

After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Shadwell. Can we issue an application to the Residential Property Tribunal Service?

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

An example of a Freehold Enfranchisement decision for a Shadwell residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired lease term was 101.61 years.

What are the common problems that you come across in leases for Shadwell properties?

There is nothing unique about leasehold conveyancing in Shadwell. All leases are unique and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain elements of the property
  • A duty to insure the building
  • A provision for the recovery of money spent for the benefit of another party.
  • 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. Barclays , The Mortgage Works, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Shadwell Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

    Plenty Shadwell leasehold properties will incur a service bill for the upkeep of the building invoiced by the freeholder. Should you purchase the property you will have to pay this charge, usually quarterly accross the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met yearly, this is usually not a large amount, say about £50-£100 but you need to enquire it because occasionally it can be many hundreds of pounds.