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

Need to find a solicitor for leasehold conveyancing in Hazlemere on your lender’s panel? Use our search tool to find quality local Hazlemere conveyancing practitioners or nationwide solicitors on your lender’s panel .

Questions and Answers: Hazlemere leasehold conveyancing

I own a leasehold house in Hazlemere. Conveyancing and Coventry Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Hazlemere who acted for me is not around.Any advice?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Hazlemere conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Hazlemere. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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. It is an essential part 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).

I am a negotiator for a busy estate agency in Hazlemere where we see a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Hazlemere conveyancing solicitors. Could you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

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 need not have to wait 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.

An alternative approach is 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 purchaser.

Do you have any top tips for leasehold conveyancing in Hazlemere with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Hazlemere can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
  • Many freeholders or Management Companies in Hazlemere charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Hazlemere.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Hazlemere leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without contacting your conveyancer first.
  • A minority of Hazlemere leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • Completion in due on the disposal of our £150000 flat in Hazlemere in 8 days. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Hazlemere?

    For most leasehold sales in Hazlemere conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing conveyancing due diligence enquiries
    • Where consent is required before sale in Hazlemere
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Hazlemere leasehold property is £350. For Hazlemere conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

    Hazlemere Leasehold Conveyancing - A selection of Questions you should ask before buying

      How many of the leaseholders are in arrears for their service charge payments? In the main the cost for major works tend not to be built into the maintenance charges, although there some managing agents in Hazlemere require tenants to pay into a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance. Is the freehold owned jointly by the tenants?

    Other Topics

    Lease Extensions in Hazlemere