Questions and Answers: Highnam leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Highnam. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Highnam - 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.
Having checked my lease I have discovered that there are only 72 years left on my lease in Highnam. I need to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent may be helpful to conduct investigations and to produce an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Highnam.
I’m about to sell my ground floor apartment in Highnam.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge 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 managing agents will not acknowledge the buyer until 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.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Highnam. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Highnam ?
Most houses in Highnam are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Highnam in which case you should be looking for a Highnam conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
Can you provide any top tips for leasehold conveyancing in Highnam from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Highnam can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Highnam leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you dont have the paperwork in place do not contact the landlord without contacting your solicitor before hand.
Highnam Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
Is there a share of the freehold?
The best form of lease arrangement is if the freehold title is in the ownership of the leaseholders. In this situation the tenants enjoy control and notwithstanding that a managing agent is usually employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Is anyone aware of any major works in the planning that could increase the maintenance charges?