Leasehold Conveyancing in Highcliffe - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Highcliffe

Expecting to exchange soon on a ground floor flat in Highcliffe. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Are you allowed to have a pet in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • 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 For details of the information to be contained in your report on your leasehold property in Highcliffe please ask your solicitor in advance of your conveyancing in Highcliffe

  • Last month I purchased a leasehold house in Highcliffe. Am I liable to pay service charges for periods before my ownership?

    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 ensure 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 offer any advice when it comes to appointing a Highcliffe conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Highcliffe conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Highcliffe conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How familiar is the firm with lease extension legislation?
  • How many lease extensions have they carried out in Highcliffe in the last twenty four months?

  • Can you provide any advice for leasehold conveyancing in Highcliffe from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Highcliffe can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
    • Many freeholders or Management Companies in Highcliffe levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Highcliffe.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Highcliffe leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such alterations. If you fail to have the consents to hand do not communicate with the landlord without checking with your solicitor first.
  • A minority of Highcliffe leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate can be a lengthy formality and delays many a Highcliffe home move. Where a duplicate share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

  • What makes a Highcliffe lease defective?

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

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

    I purchased a 1 bedroom flat in Highcliffe, conveyancing formalities finalised 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Highcliffe with over 90 years remaining are worth £204,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2089

    With only 65 years left to run we estimate the premium for your lease extension to range between £18,100 and £20,800 as well as professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Highcliffe