Looking forward to sign contracts shortly on a leasehold property in Henlow. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

• Does the lease require carpeting throughout thus preventing wood flooring?
• Are you allowed to have a pet in the flat?
• Whether the lease restricts you from subletting the property, or having a home office for business
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Responsibility for repairing the window frames
• What you can do if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I am looking at a two apartments in Henlow which have about 50 years remaining on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold house in Henlow. Do I have any liability for service charges for periods before 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. Strange as it may seem, 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 Henlow conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Henlow conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Henlow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?
• Can they put you in touch with client in Henlow who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Henlow with the purpose of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Henlow can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
• A minority of Henlow leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 purchasers or their solicitors.
• If you have had conflict with your landlord 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 reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
• If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a time consuming formality and slows down many a Henlow conveyancing transaction. If a reissued share certificate is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but it would be wise to double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Henlow Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

In the main the cost for major works are not wrapped into the maintenance charges, although some managing agents in Henlow obliged tenants to contribute towards a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance.