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

Hanslope leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Hanslope. Before I get started I want to be sure as to the unexpired term of the lease.

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

Planning to complete next month on a ground floor flat in Hanslope. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Hanslope should include some of the following:

  • You should receive a copy of the lease
  • The physical extent of the premises. This will be the apartment itself but could also include a loft or cellar if appropriate.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • 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
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Hanslope please enquire of your conveyancer in ahead of your conveyancing in Hanslope

    • I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Hanslope. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Hanslope ?

    Most houses in Hanslope are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Hanslope so you should seriously consider looking for a Hanslope conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

    I am looking at a two flats in Hanslope which have about fifty years remaining on the leases. should I be concerned?

    There are plenty of short leases in Hanslope. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

    I've recently bought a leasehold property in Hanslope. Do I have any liability for service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Leasehold Conveyancing in Hanslope - Examples of Queries before buying

      How much is the maintenance charge and ground rent on the property? Where a Hanslope lease has fewer than 80 years it will impact the marketability of the property. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would be be obliged to have owned the property for two years before you are eligible to exercise a lease extension. Please inform me if there are any major works on the horizon that could increase the service fees?

    Other Topics

    Lease Extensions in Hanslope