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

When it comes to leasehold conveyancing in Harlow, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Santander, RBS or NatWest make sure you find a lawyer on their panel. Find a Harlow conveyancing lawyer with our search tool

Sample questions relating to Harlow leasehold conveyancing

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 since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Harlow. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Harlow ?

Most houses in Harlow are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Harlow so you should seriously consider shopping around for a Harlow conveyancing practitioner and check that they are used to advising 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 with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a two maisonettes in Harlow both have in the region of forty five years left on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises 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 help from a solicitor and surveyor with experience in this area

What are your top tips when it comes to appointing a Harlow conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Harlow conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Harlow conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How familiar is the practice with lease extension legislation?
  • What volume of lease extensions has the firm carried out in Harlow in the last year?

  • We expect to complete the disposal of our £300000 apartment in Harlow next Thursday . The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Harlow?

    Harlow conveyancing on leasehold flats more often than not necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    When it comes to leasehold conveyancing in Harlow what are the most common lease defects?

    Leasehold conveyancing in Harlow is not unique. Most leases are individual and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • A duty to insure the building
    • 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

    I bought a studio flat in Harlow, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Harlow with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2078

    With 54 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 plus costs.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Harlow