I am need of leasehold conveyancing for a flat in a fairly new development (five years built) in Bethnal Green. The vast majority the flats have already been sold. Do I need carry out the neighbourhood searches as part of conveyancing in Bethnal Green?

Conveyancing Searches are a vital link in the Bethnal Green conveyancing process. There are numerous companies who offer Bethnal Green conveyancing searches, as well direct from the local authority. These are usually referred to as personal search companies and they produce, not surprisingly, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must secure their data from the local authority.

Is there a reason why leasehold purchase conveyancing in Bethnal Green costs more?

Bethnal Green leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

Various internet forums that I have frequented warn that are the primary reason for stalling in Bethnal Green house deals. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Bethnal Green.

Are there restrictive covenants that are commonly picked up during conveyancing in Bethnal Green?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Bethnal Green. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am the leaseholder of a two-bedroom flat in Bethnal Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.

An example of a Lease Extension matter before the tribunal for a Bethnal Green property is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The unexpired term as at the valuation date was 72.39 years.

In relation to leasehold conveyancing in Bethnal Green what are the most frequent lease defects?

Leasehold conveyancing in Bethnal Green is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

Maintenance charge proportions which don’t add up to the correct percentage Insurance obligations

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Nottingham Building Society 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.