Fixed-fee leasehold conveyancing in Hazlemere:

When it comes to leasehold conveyancing in Hazlemere, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Hazlemere leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Hazlemere. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Hazlemere - then the leasehold title will always include the short particulars 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 today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hazlemere. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Hazlemere ?

Most houses in Hazlemere are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Hazlemere in which case you should be looking for a Hazlemere conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.

Back In 2003, I bought a leasehold house in Hazlemere. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Hazlemere who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. There is no need to instruct a Hazlemere conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Hazlemere both have approximately forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Hazlemere is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and lenders, leases with under eighty years become less and less attractive. 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 property 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 a residence 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 Hazlemere conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

If all goes to plan we aim to complete our sale of a £175000 flat in Hazlemere in just under a week. The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Hazlemere?

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

  • Addressing pre-contract questions
  • 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 solicitor 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 the information.

Hazlemere Leasehold Conveyancing - Sample of Questions you should consider before buying

    Are any of leasehold owners in dispute over their service charge payments? Who is in charge of the block? Is there a share of the freehold?

Other Topics

Lease Extensions in Hazlemere