Guaranteed fixed fees for Leasehold Conveyancing in Henlow

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Henlow, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Henlow leasehold conveyancing

I've found a house that seems to meet my requirements, 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 purchasing a leasehold house in Henlow. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Henlow ?

The majority of houses in Henlow 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. We note that you are buying in Henlow so you should seriously consider shopping around for a Henlow conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I own a leasehold flat in Henlow. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Henlow who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Henlow conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Henlow both have approximately fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Henlow is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and banks, leases with under 75 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 premises 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. More often than not it is possible to negotiate informally with the freeholder to extend 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 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.

Last month I purchased a leasehold house in Henlow. Do I have any liability for service charges for periods before my ownership?

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. A critical element 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).

Can you provide any top tips for leasehold conveyancing in Henlow with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Henlow can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
  • The majority freeholders or managing agents in Henlow levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Henlow.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Henlow leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such changes. Where you dont have the paperwork in place you should not contact the landlord without contacting your solicitor in the first instance.
  • A minority of Henlow leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 buyers or their solicitors.
  • If you hold a share in a the freehold, you should ensure that you hold the original share document. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Henlow home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • Leasehold Conveyancing in Henlow - A selection of Queries Prior to Purchasing

      Are any of leasehold owners in arrears of their service charge payments? Who takes responsibility for maintaining and repairing the building? The answer will be useful as a) areas may cause problems for the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to have all the details

    Other Topics

    Lease Extensions in Henlow