Fixed-fee leasehold conveyancing in Hampden Pk:

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Questions and Answers: Hampden Pk leasehold conveyancing

I am on look out for some leasehold conveyancing in Hampden Pk. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Hampden Pk - then the leasehold title will always include the basic details 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.

Jane (my partner) and I may need to let out our Hampden Pk ground floor flat temporarily due to taking a sabbatical. We used a Hampden Pk conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Hampden Pk do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Planning to complete next month on a ground floor flat in Hampden Pk. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

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

  • You should receive a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Hampden Pk please enquire of your lawyer in ahead of your conveyancing in Hampden Pk

    • I have just started marketing my garden apartment in Hampden Pk.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – Do I pay up?

    It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    Can you provide any top tips for leasehold conveyancing in Hampden Pk from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Hampden Pk can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
    • The majority landlords or managing agents in Hampden Pk charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Hampden Pk.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Hampden Pk leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. Should you dont have the consents to hand do not communicate with the landlord without checking with your solicitor in advance.
  • A minority of Hampden Pk leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers 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 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 settle 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.

    • I bought a basement flat in Hampden Pk, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Hampden Pk with a long lease are worth £180,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2095

    With 73 years left to run the likely cost is going to range between £10,500 and £12,000 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Hampden Pk