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Sample questions relating to Headley leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Headley. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Headley - 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.

Frank (my husband) and I may need to let out our Headley basement flat temporarily due to taking a sabbatical. We instructed a Headley conveyancing practice in 2004 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Headley do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to 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 permission.

I have just appointed agents to market my ground floor flat in Headley.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear 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 until 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 two apartments in Headley both have about forty five years remaining on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in Headley with the purpose of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Headley can be bypassed where you appoint lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Headley state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. If you fail to have the paperwork to hand you should not contact the landlord without contacting your solicitor in the first instance.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Organising a new share certificate can be a time consuming process and slows down many a Headley home move. If a reissued share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 75 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • I purchased a 2 bed flat in Headley, conveyancing formalities finalised 2009. How much will my lease extension cost? Equivalent flats in Headley with over 90 years remaining are worth £199,000. The ground rent is £45 per annum. The lease expires on 21st October 2089

    You have 64 years left to run we estimate the premium for your lease extension to span between £19,000 and £22,000 plus legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Headley