I am in need of some leasehold conveyancing in Hermon. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Hermon - 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've recently bought a leasehold flat in Hermon. 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. 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).

Can you provide any top tips for leasehold conveyancing in Hermon from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Hermon can be reduced if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers representatives.
• The majority freeholders or Management Companies in Hermon charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Hermon.

If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Hermon leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such works. Where you dont have the paperwork in place you should not contact the landlord without contacting your solicitor before hand.

A minority of Hermon 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 obtain 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 service charge figures so that they can pass this information on to the buyers or their lawyers.

You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete the sale of our £175000 maisonette in Hermon in nine days. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Hermon?

For most leasehold sales in Hermon conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Hermon
• Supplying insurance information
• 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 Hermon leasehold property is £350. For Hermon 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 provide the information.

What are the common deficiencies that you witness in leases for Hermon properties?

There is nothing unique about leasehold conveyancing in Hermon. All leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Hermon - Examples of Questions you should ask before Purchasing

Plenty Hermon leasehold properties will have a service bill for maintenance of the building levied on behalf of the landlord. Where you buy the apartment you will have to pay this amount, normally periodically throughout the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent to be met yearly, this is usually not a significant amount, say approximately £25-£75 but you need to enquire it because occasionally it can be surprisingly expensive. How is the lease structured? On the whole the cost for major works are not incorporated into the service charges, although a few managing agents in Hermon require leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for major works.

Other Topics

Lease Extensions in Hermon