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

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When it comes to leasehold conveyancing in Buckhurst Hill, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or NatWest be sure to find a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Buckhurst Hill leasehold conveyancing

I am in need of some leasehold conveyancing in Buckhurst Hill. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Buckhurst Hill - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My husband and I may need to sub-let our Buckhurst Hill ground floor flat for a while due to a career opportunity. We used a Buckhurst Hill conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Buckhurst Hill do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Buckhurst Hill. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Buckhurst Hill ?

The majority of houses in Buckhurst Hill are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Buckhurst Hill in which case you should be shopping around for a Buckhurst Hill conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

Do you have any advice for leasehold conveyancing in Buckhurst Hill with the purpose of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Buckhurst Hill can be reduced where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
  • The majority freeholders or Management Companies in Buckhurst Hill charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Buckhurst Hill.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Buckhurst Hill leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Where you dont have the consents to hand you should not contact the landlord without checking with your lawyer in the first instance.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a lengthy process and delays many a Buckhurst Hill home move. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Buckhurst Hill conveyancing firm to act on my behalf?

    Where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.

    An example of a Freehold Enfranchisement decision for a Buckhurst Hill premises is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The the unexpired residue of the current lease was 69.26 years.

    What makes a Buckhurst Hill lease unmortgageable?

    Leasehold conveyancing in Buckhurst Hill is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Buckhurst Hill