Fixed-fee leasehold conveyancing in Hoddesdon:

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When it comes to leasehold conveyancing in Hoddesdon, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, RBS or NatWest be sure to choose a lawyer on their panel. Find a Hoddesdon conveyancing lawyer with our search tool

Recently asked questions relating to Hoddesdon leasehold conveyancing

I wish to rent out my leasehold flat in Hoddesdon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease governs relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Hoddesdon do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Back In 2003, I bought a leasehold house in Hoddesdon. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Hoddesdon who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Hoddesdon conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two flats in Hoddesdon which have approximately fifty years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Hoddesdon is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of purchasers and banks, leases with less than 75 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 Hoddesdon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.

Can you offer any advice when it comes to appointing a Hoddesdon conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Hoddesdon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Hoddesdon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Hoddesdon who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Hoddesdon from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Hoddesdon can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Hoddesdon state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you dont have the consents to hand do not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Hoddesdon leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 buyers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate can be a time consuming formality and delays many a Hoddesdon home move. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Hoddesdon Leasehold Conveyancing - Examples of Queries Prior to Purchasing

      Best to be warned whether redecorating or some other significant cost is pending to be shared amongst the tenants and will materially increase the the maintenance charges or require a specific payment. Its a good idea to find out as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily issues such as the upkeep of the communal areas. Ask other tenants whether they are happy with their service. On a final note, find out the dates that the maintenance charges are due to the appropriate party and precisely what you get for your money. Plenty Hoddesdon leasehold flats will be liable to pay a service charge for maintenance of the block invoiced on behalf of the management company. Should you buy the property you will have to meet this amount, usually in instalments during the year. This may differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge to be met yearly, ordinarily this is not a large sum, say about £25-£75 but you need to enquire it because sometimes it could be prohibitively expensive.

    Other Topics

    Lease Extensions in Hoddesdon