Leasehold Conveyancing in Hampden Pk - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Hampden Pk is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Hampden Pk and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Hampden Pk leasehold conveyancing: Q and A’s

I am hoping to exchange soon on a leasehold property in Hampden Pk. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The total extent of the premises. This will be the property itself but may include a roof space or basement if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Hampden Pk please enquire of your lawyer in ahead of your conveyancing in Hampden Pk

    • I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Hampden Pk. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Hampden Pk ?

    Most houses in Hampden Pk are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Hampden Pk so you should seriously consider shopping around for a Hampden Pk conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should report to you on the legal implications.

    I am tempted by the attractive purchase price for a two maisonettes in Hampden Pk both have about forty five years unexpired on the lease term. Will this present a problem?

    A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

    I am a negotiator for a busy estate agency in Hampden Pk where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Hampden Pk conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

    An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    Do you have any advice for leasehold conveyancing in Hampden Pk with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Hampden Pk can be avoided where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Hampden Pk state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you fail to have the approvals in place you should not communicate with the landlord without contacting your solicitor first.
  • Some Hampden Pk leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Arranging a new share certificate can be a time consuming process and frustrates many a Hampden Pk home move. Where a reissued share is required, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Hampden Pk Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

      The answer will be important as a) areas can cause problems for the building as the common areas may start to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to have complete disclosure What restrictions exist in the Hampden Pk Lease? Are there any major works anticipated that will add a premium to the maintenance charges?

    Other Topics

    Lease Extensions in Hampden Pk