Having had my offer accepted I require leasehold conveyancing in Hale Barns. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Hale Barns - 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.

I am tempted by the attractive purchase price for a couple of maisonettes in Hale Barns which have about fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Hale Barns. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to choosing a Hale Barns conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Hale Barns conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Hale Barns conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?

If all goes to plan we aim to complete the sale of our £400000 flat in Hale Barns next Thursday . The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Hale Barns?

Hale Barns conveyancing on leasehold apartments often necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to sell the property.

In relation to leasehold conveyancing in Hale Barns what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Hale Barns. All leases are unique and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

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. Santander, Skipton Building Society, and TSB all have express 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, forcing the buyer to withdraw.

Hale Barns Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

Plenty Hale Barns leasehold apartments will have a service bill for maintenance of the building levied by the landlord. Should you purchase the flat you will have to pay this amount, normally quarterly accross the year. This could differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a ground rent to be met yearly, this is usually not a exorbitant figure, say approximately £50-£100 but you need to enquire it because occasionally it could be surprisingly expensive. How much is the annual maintenance fee and ground rent? How many years are left on the lease?

Other Topics

Lease Extensions in Hale Barns