Experts for Leasehold Conveyancing in Amersham

Get a Quote

Any conveyancing practice can theoretically deal with your leasehold conveyancing in Amersham, 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 Amersham leasehold conveyancing

There are only Sixty One years remaining on my flat in Amersham. I need to get lease extension but my landlord is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases a specialist may be useful to try and locate and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Amersham.

I am hoping to complete next month on a studio apartment in Amersham. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prohibit wood flooring?
  • You need to be told what counts as a Nuisance in the lease
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Amersham please ask your solicitor in advance of your conveyancing in Amersham

    • I am attracted to a two maisonettes in Amersham which have in the region of forty five years unexpired on the leases. Do I need to be concerned?

    There are plenty of short leases in Amersham. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

    Do you have any top tips for leasehold conveyancing in Amersham from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Amersham can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
    • Some Amersham leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing 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 better to present the dispute as historic rather than unsettled.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Arranging a replacement share certificate can be a lengthy process and frustrates many a Amersham home move. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Amersham lease problematic?

    Leasehold conveyancing in Amersham is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Virgin Money, and Bank of Ireland all have express 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 grant the mortgage, forcing the purchaser to pull out.

    Leasehold Conveyancing in Amersham - Examples of Questions you should ask Prior to Purchasing

      Who takes responsibility for maintaining and repairing the block? What is the the remaining lease term? Make sure you investigate if the the lease includes any onerous restrictions in the lease. For example it is reasonably common in Amersham leases that pets are not permitted in certain buildings in Amersham. If you love the apartmentin Amersham but your cat can’t move with you then you will be presented with a difficult determination.

    Other Topics

    Lease Extensions in Amersham