Fixed-fee leasehold conveyancing in Handsworth:

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When it comes to leasehold conveyancing in Handsworth, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or NatWest make sure you find a lawyer on their approved list. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Handsworth

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Handsworth. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Handsworth are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Handsworth so you should seriously consider shopping around for a Handsworth conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I own a leasehold house in Handsworth. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Handsworth who previously acted has now retired.Do I pay?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Handsworth conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Handsworth which have approximately forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Handsworth. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Handsworth with the intention of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Handsworth can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
  • Many freeholders or Management Companies in Handsworth levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Handsworth.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Handsworth state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you fail to have the paperwork to hand do not communicate with the landlord without checking with your solicitor first.
  • Some Handsworth 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 bank and professional references. Any 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unresolved.

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

    Leasehold conveyancing in Handsworth is not unique. Most leases are individual and legal mistakes in the legal wording 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 parts 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. HSBC Bank, Leeds Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

    Leasehold Conveyancing in Handsworth - Examples of Questions you should consider Prior to buying

      What restrictions are there in the Handsworth Lease? Who are the managing agents? If a Handsworth lease has less than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your bank that they are happy with residual term of the lease. Leases with less 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 how much this would cost. Remember, in most cases you will be required to have been the owner of the residence for a couple of years before you are eligible to exercise a lease extension.

    Other Topics

    Lease Extensions in Handsworth