Hawkshead leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Hawkshead. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Hawkshead - 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’m about to sell my basement flat in Hawkshead.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – Do I pay up?
It best that you pay the service charge 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 managing agents 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 own a leasehold flat in Hawkshead. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Hawkshead who previously acted has now retired.Any advice?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Hawkshead conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a two maisonettes in Hawkshead which have in the region of 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 apartment in Hawkshead is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and banks, 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 premises 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 premises 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 Hawkshead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.
Last month I purchased a leasehold house in Hawkshead. Am I liable to pay service charges for periods before 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Hawkshead Leasehold Conveyancing - Sample of Queries Prior to buying
Make sure you find out if there are any onerous prohibitions in the lease. For instance it is fairly common in Hawkshead leases that pets are not permitted in certain buildings in Hawkshead. If you like the apartmentin Hawkshead however your dog is not allowed to live with you then you will be faced difficult determination.
The answer will be helpful as a) areas can cause problems in the block as the communal areas may start to deteriorate where services remain unpaid b) if the tenants have an issue with the running of the building you will need to have complete disclosure
How is the lease structured?