Experts for Leasehold Conveyancing in Haddenham

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Haddenham leasehold conveyancing Example Support Desk Enquiries

Planning to exchange soon on a garden flat in Haddenham. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The total extent of the property. This will be the property itself but could also incorporate a loft or cellar if appropriate.
  • Defining your rights in respect of common areas in the building.By way of example, does the lease permit a right of way over an accessway or staircase?
  • Whether the lease restricts you from subletting the property, or working from home
  • Whether your lease has a provision for a reserve fund?
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Haddenham please enquire of your lawyer in ahead of your conveyancing in Haddenham

    • I've recently bought a leasehold house in Haddenham. 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 lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

    What advice can you give us when it comes to appointing a Haddenham conveyancing firm to carry out our lease extension conveyancing?

    When appointing a property lawyer for your lease extension (regardless if they are a Haddenham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Haddenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • How familiar is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

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

    • A significant proportion of the frustration in leasehold conveyancing in Haddenham can be bypassed where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
    • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Haddenham leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you fail to have the approvals to hand do not contact the landlord without checking with your solicitor first.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing 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 better to reveal the dispute as historic rather than unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a lengthy process and slows down many a Haddenham conveyancing transaction. If a duplicate share is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • In relation to leasehold conveyancing in Haddenham what are the most common lease defects?

    Leasehold conveyancing in Haddenham is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. 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 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

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions 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 withdraw.

    I bought a ground floor flat in Haddenham, conveyancing was carried out in 1996. How much will my lease extension cost? Similar properties in Haddenham with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2080

    You have 57 years unexpired the likely cost is going to range between £27,600 and £31,800 as well as costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Haddenham