Expecting to exchange soon on a studio apartment in Upton Park. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Upton Park should include some of the following:

• The total extent of the demise. This will be the property itself but might incorporate a loft or cellar if appropriate.
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a reserve fund?
• Repair and maintenance of the flat
• Responsibility for repairing the window frames
• What you can do if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I have just appointed agents to market my 2 bed apartment in Upton Park.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge 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 managing agents 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.

Can you provide any top tips for leasehold conveyancing in Upton Park with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Upton Park can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
• Many landlords or managing agents in Upton Park levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Upton Park.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Upton Park leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer in advance.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the buyers, 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 Management Company, you should ensure that you are holding the original share document. Arranging a duplicate share certificate is often a lengthy process and frustrates many a Upton Park home move. Where a duplicate share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 125000 garden flat in Upton Park in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Upton Park?

Upton Park conveyancing on leasehold flats more often than not requires the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to sell the property.

I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Upton Park conveyancing firm to act on my behalf?

You certainly can. We are happy to put you in touch with a Upton Park conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Upton Park flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The the unexpired term as at the valuation date was 69.77 years.

When it comes to leasehold conveyancing in Upton Park what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Upton Park. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• 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 will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Leeds Building Society, and Bank of Ireland all have very detailed 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 defective they may refuse to provide security, obliging the purchaser to withdraw.

I am the registered owner of a leasehold flat in Upton Park, conveyancing having been completed in 1995. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Upton Park with a long lease are worth £210,000. The ground rent is £60 invoiced annually. The lease finishes on 21st October 2098

With just 72 years left to run the likely cost is going to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.