Having had my offer accepted I require leasehold conveyancing in Hartlepool. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and most are in Hartlepool - 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.

My husband and I may need to let out our Hartlepool basement flat temporarily due to a career opportunity. We used a Hartlepool conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Hartlepool conveyancing solicitor is not around you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain consent via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

I am attracted to a couple of flats in Hartlepool both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Hartlepool is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive 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 a residence 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 Hartlepool 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.

What advice can you give us when it comes to choosing a Hartlepool conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Hartlepool conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Hartlepool conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?

What are the common deficiencies that you encounter in leases for Hartlepool properties?

Leasehold conveyancing in Hartlepool is not unique. All leases are unique 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:

• A provision to repair 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.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley 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 problematic they may refuse to provide security, obliging the purchaser to withdraw.

Hartlepool Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Where a Hartlepool lease has fewer than eighty years it will affect the value of the flat. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you will be be obliged to have owned the premises for a couple of years before you are legally able to extend the lease. How many of the leaseholders are in arrears for their maintenance charge payments? The best form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders have being in charge if their destiny and although a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Hartlepool