I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Harwich. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Harwich ?

The majority of houses in Harwich are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Harwich so you should seriously consider shopping around for a Harwich conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am tempted by the attractive purchase price for a two apartments in Harwich which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

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

If you are instructing a conveyancer for lease extension works (regardless if they are a Harwich conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Harwich conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• Can they put you in touch with client in Harwich who can give a testimonial?

We expect to complete our sale of a £350000 apartment in Harwich next week. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Harwich?

Harwich conveyancing on leasehold maisonettes normally necessitates the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are at liberty levy a reasonable charge 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 situations it is above £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is demanded should you wish to complete the sale of your home.

Are there frequently found defects that you come across in leases for Harwich properties?

Leasehold conveyancing in Harwich is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

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. HSBC Bank, Bank of Scotland, and Platform Home Loans Ltd all have very detailed conveyancing instructions 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 pull out.

I own a 2 bed flat in Harwich, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Harwich with over 90 years remaining are worth £205,000. The ground rent is £65 yearly. The lease expires on 21st October 2075

You have 52 years remaining on your lease we estimate the price of your lease extension to range between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Harwich