Leasehold Conveyancing in Henley On Thames - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Henley On Thames is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Henley On Thames and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Henley On Thames leasehold conveyancing

Looking forward to sign contracts shortly on a basement flat in Henley On Thames. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Henley On Thames should include some of the following:

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Henley On Thames please enquire of your solicitor in advance of your conveyancing in Henley On Thames

    • Last month I purchased a leasehold house in Henley On Thames. Do I have any liability for 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 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).

    What are your top tips when it comes to choosing a Henley On Thames conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Henley On Thames conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Henley On Thames conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

    • How many lease extensions has the firm completed in Henley On Thames in the last twenty four months?
  • Can they put you in touch with client in Henley On Thames who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Henley On Thames with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Henley On Thames can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Henley On Thames leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such works. Where you fail to have the paperwork in place do not contact the landlord without checking with your solicitor first.
  • A minority of Henley On Thames leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Organising a replacement share certificate can be a time consuming formality and frustrates many a Henley On Thames home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • When it comes to leasehold conveyancing in Henley On Thames what are the most frequent lease problems?

    Leasehold conveyancing in Henley On Thames is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I inherited a garden flat in Henley On Thames, conveyancing having been completed 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Henley On Thames with an extended lease are worth £258,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2092

    With 67 years unexpired we estimate the price of your lease extension to be between £12,400 and £14,200 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Henley On Thames