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

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Common questions relating to Harwich leasehold conveyancing

I am on look out for some leasehold conveyancing in Harwich. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Harwich - 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.

I've recently bought a leasehold property in Harwich. Am I liable to pay 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. However, 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).

Can you provide any top tips for leasehold conveyancing in Harwich with the aim of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Harwich can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
  • Many freeholders or managing agents in Harwich levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Harwich.
  • A minority of Harwich leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Harwich home move. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 flat in Harwich in just under a week. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Harwich?

    Harwich conveyancing on leasehold maisonettes more often than not requires the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded if you want to sell the property.

    What makes a Harwich lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Harwich. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • 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

    You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Harwich Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

      The best form of lease structure is if the freehold reversion is owned by the leaseholders. In this arrangement the leaseholders benefit from being in charge if their destiny and even though a managing agent is frequently retained where it is larger than a house conversion, the managing agent is directed by the tenants. How much is the annual service fee and ground rent? It would be sensible to enquire if the the lease contains any onerous restrictions in the lease. For example it is very common in Harwich leases that pets are not allowed in in a block in Harwich. If you like the propertyin Harwich however your dog can’t move with you then you will be presented with a difficult choice.

    Other Topics

    Lease Extensions in Harwich