I am on look out for some leasehold conveyancing in Henlow. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Henlow - 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.

I want to let out my leasehold flat in Henlow. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Henlow do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I work for a reputable estate agent office in Henlow where we have witnessed a few flat sales derailed due to short leases. I have been given conflicting advice from local Henlow conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 needs to be completed 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 £325000 maisonette in Henlow on Thursday in a week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Henlow?

Henlow conveyancing on leasehold maisonettes often necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are entitled charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

What makes a Henlow lease defective?

There is nothing unique about leasehold conveyancing in Henlow. All leases is drafted differently and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• 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

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Virgin Money, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

Leasehold Conveyancing in Henlow - Examples of Queries Prior to Purchasing

The best form of lease arrangement is a share of the freehold. In this arrangement the lessees have being in charge if their destiny and although a managing agent is frequently employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. What is the name of the managing agents? Is anyone aware of any major works in the planning that could add a premium to the maintenance costs?

Other Topics

Lease Extensions in Henlow