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

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Leasehold conveyancing in Highnam is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Highnam and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Highnam leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Highnam. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most 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.

I would like to sublet my leasehold flat in Highnam. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A small minority of properties in Highnam do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Looking forward to sign contracts shortly on a studio apartment in Highnam. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Highnam please ask your solicitor in ahead of your conveyancing in Highnam

    • I am looking at a couple of maisonettes in Highnam which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

    What makes a Highnam lease problematic?

    Leasehold conveyancing in Highnam is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    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. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Bank of Ireland 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 problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

    I inherited a basement flat in Highnam, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding flats in Highnam with over 90 years remaining are worth £269,000. The ground rent is £60 per annum. The lease terminates on 21st October 2081

    With just 57 years remaining on your lease we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Highnam