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

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Common questions relating to Henlow leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Henlow. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Henlow - 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 want to let out my leasehold apartment in Henlow. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Henlow 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 dictates 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 am tempted by the attractive purchase price for a two apartments in Henlow both have about forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Henlow is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive 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 Henlow 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 any new 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.

I am a negotiator for a busy estate agent office in Henlow where we have witnessed a few flat sales derailed as a result of short leases. I have received conflicting advice from local Henlow conveyancing solicitors. Please can you confirm whether the vendor of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

All being well we will complete the disposal of our £275000 garden flat in Henlow next week. The managing agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Henlow?

Henlow conveyancing on leasehold apartments typically involves administration charges raised by managing agents :

  • Answering conveyancing due diligence enquiries
  • Where consent is required before sale in Henlow
  • 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 Henlow leasehold premises is £350. For Henlow 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 obliged to supply the information.

Leasehold Conveyancing in Henlow - Sample of Questions you should consider before Purchasing

    Best to be warned whether window replacement or some other major work is pending to be shared by the leaseholders and may well dramatically impact the level of the service costs or result in a specific payment. What is the service charge and ground rent on the apartment? For most Henlow leaseholds the outlay for major works tend not to be included within service charges, although a few managing agents in Henlow obliged tenants to contribute towards a reserve fund and this is used to offset against larger works.

Other Topics

Lease Extensions in Henlow