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

Whether you are buying or selling leasehold flat in Highcliffe, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Highcliffe conveyancing lawyer with our search tool

Highcliffe leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Highcliffe. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Highcliffe - 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.

Expecting to complete next month on a studio apartment in Highcliffe. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • The physical extent of the premises. This will be the property itself but might incorporate a roof space or basement if applicable.
  • Setting out your rights in relation to common areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
  • 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
  • Changes to the flat (alterations and additions)
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Highcliffe please ask your lawyer in advance of your conveyancing in Highcliffe

  • I am attracted to a two apartments in Highcliffe which have approximately fifty years left on the lease term. Do I need to be concerned?

    There are no two ways about it. A leasehold apartment in Highcliffe is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Highcliffe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 flat in Highcliffe. Do I have any liability for service charges relating to a period prior to 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. 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 provide any advice for leasehold conveyancing in Highcliffe from the perspective of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Highcliffe can be bypassed where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers representatives.
    • Many freeholders or Management Companies in Highcliffe charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Highcliffe.
  • A minority of Highcliffe leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 purchasers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Arranging a re-issued share certificate is often a time consuming formality and slows down many a Highcliffe home move. If a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.

  • I inherited a ground floor flat in Highcliffe, conveyancing having been completed 1998. How much will my lease extension cost? Equivalent flats in Highcliffe with an extended lease are worth £228,000. The ground rent is £55 per annum. The lease ceases on 21st October 2105

    With just 80 years left to run the likely cost is going to range between £9,500 and £11,000 as well as costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Highcliffe