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Frequently asked questions relating to Higham Wood leasehold conveyancing

Looking forward to sign contracts shortly on a garden flat in Higham Wood. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Does the lease prohibit wood flooring?
  • Whether your lease has a provision for a reserve fund?
  • 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
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Higham Wood please ask your solicitor in advance of your conveyancing in Higham Wood

    • I have just appointed agents to market my basement apartment in Higham Wood.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

    It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    Back In 2004, I bought a leasehold flat in Higham Wood. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Higham Wood who acted for me is not around.What should I do?

    First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Higham Wood conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    What are your top tips when it comes to choosing a Higham Wood conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Higham Wood conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Higham Wood conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions have they carried out in Higham Wood in the last year?

    • What are the common deficiencies that you encounter in leases for Higham Wood properties?

    There is nothing unique about leasehold conveyancing in Higham Wood. All leases are unique and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations 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

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Skipton Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

    Higham Wood Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

      The majority of Higham Wood leasehold apartments will have a service charge for the upkeep of the building levied by the landlord. Where you purchase the property you will have to meet this charge, normally quarterly accross the year. This could be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge for you to pay yearly, this is usually not a significant sum, say about £25-£75 but you need to enquire it because occasionally it can be prohibitively expensive. If a Higham Wood lease has fewer than 80 years it will have adverse implications on the marketability of the flat. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you would need to own the property for a couple of years before you are entitled to extend the lease. What prohibitions exist in the Higham Wood Lease?

    Other Topics

    Lease Extensions in Higham Wood