Fixed-fee leasehold conveyancing in Hockley:

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Frequently asked questions relating to Hockley leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Hockley. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Hockley - then the leasehold title will always include the short particulars 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.

Due to sign contracts shortly on a basement flat in Hockley. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the premises. This will be the apartment itself but might incorporate a roof space or cellar if appropriate.
  • You need to be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Hockley please ask your conveyancer in advance of your conveyancing in Hockley

  • Estate agents have just been given the go-ahead to market my garden flat in Hockley.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?

    The sensible thing to do is pay the invoice 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 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.

    Do you have any top tips for leasehold conveyancing in Hockley with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Hockley can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority landlords or Management Companies in Hockley charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Hockley.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Hockley state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you fail to have the approvals to hand do not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Hockley leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay 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 purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.

  • Completion in due on the disposal of our £150000 flat in Hockley next week. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Hockley?

    For the majority of leasehold sales in Hockley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Completing pre-exchange questions
    • Where consent is required before sale in Hockley
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Hockley leasehold property is £350. For Hockley conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

    I invested in buying a split level flat in Hockley, conveyancing formalities finalised 2003. Can you work out an approximate cost of a lease extension? Comparable flats in Hockley with an extended lease are worth £189,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2101

    With 79 years left to run the likely cost is going to range between £9,500 and £11,000 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Hockley