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Haywards Heath leasehold conveyancing: Q and A’s

Expecting to sign contracts shortly on a garden flat in Haywards Heath. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Haywards Heath should include some of the following:

  • You should receive a copy of the lease
  • Will you be prohibited or prevented from having pets in the property?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • You need to be told what counts as a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Haywards Heath please ask your conveyancer in advance of your conveyancing in Haywards Heath

    • I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Haywards Heath. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

    The majority of houses in Haywards Heath are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Haywards Heath so you should seriously consider looking for a Haywards Heath conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

    I am attracted to a two flats in Haywards Heath which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

    There is no doubt about it. A leasehold flat in Haywards Heath is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat 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 Haywards Heath 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.

    Do you have any top tips for leasehold conveyancing in Haywards Heath from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Haywards Heath can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Haywards Heath leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you dont have the consents to hand do not contact the landlord without checking with your lawyer first.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a time consuming formality and delays many a Haywards Heath home move. If a reissued share is required, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • We expect to complete the disposal of our £325000 apartment in Haywards Heath on Tuesday in a week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Haywards Heath?

    Haywards Heath conveyancing on leasehold maisonettes often requires the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

    I am the registered owner of a leasehold flat in Haywards Heath, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Haywards Heath with an extended lease are worth £209,000. The ground rent is £60 levied per year. The lease finishes on 21st October 2100

    You have 75 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you 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 Haywards Heath