Sample questions relating to Hawkhurst leasehold conveyancing
I wish to sublet my leasehold flat in Hawkhurst. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Hawkhurst do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Estate agents have just been given the go-ahead to market my ground floor flat in Hawkhurst.Conveyancing has not commenced but I have just had a yearly service charge demand – Do I pay up?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am tempted by the attractive purchase price for a couple of flats in Hawkhurst both have about fifty years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Hawkhurst. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field
I am a negotiator for a reputable estate agency in Hawkhurst where we see a few flat sales put at risk as a result of short leases. I have been given conflicting advice from local Hawkhurst conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to appointing a Hawkhurst conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Hawkhurst conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Hawkhurst conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
Leasehold Conveyancing in Hawkhurst - Examples of Questions you should consider before buying
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Best to be warned whether redecorating or some other major work is due in the foreseeable future to be shared by the leasehold owners and will dramatically increase the the maintenance fees or require a specific payment.
How much is the ground rent and service charge?
How is the lease structured?
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