I am in need of some leasehold conveyancing in Hampden Pk. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Hampden Pk - 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.

Having checked my lease I have discovered that there are only Sixty One years remaining on my flat in Hampden Pk. I now want to extend my lease but my landlord is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. On the whole an enquiry agent would be helpful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Hampden Pk.

I have just started marketing my ground floor flat in Hampden Pk.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 management companies 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.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Hampden Pk. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Hampden Pk are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Hampden Pk in which case you should be looking for a Hampden Pk conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.

I am looking at a two apartments in Hampden Pk which have approximately fifty years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Hampden Pk is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hampden Pk conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Hampden Pk Conveyancing for Leasehold Flats - Examples of Queries before buying

The best form of lease structure is where the freehold reversion is owned by the leaseholders. In this arrangement the lessees enjoy control and although a managing agent is frequently retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. How long is the Lease? If a Hampden Pk lease has fewer than 80 years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Hampden Pklease extensions you would be be obliged to have owned the residence for two years in order to be eligible to extend the lease.

Other Topics

Lease Extensions in Hampden Pk