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

Get a Quote

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

Holly Village leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Holly Village. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

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

Looking forward to complete next month on a ground floor flat in Holly Village. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Are pets allowed in the flat?
  • Does the lease prevent you from letting out the flat, or having a home office for business
  • 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
  • Whether your lease has a provision for a sinking fund?
  • 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. For a comprehensive list of information to be included in your report on your leasehold property in Holly Village please ask your solicitor in advance of your conveyancing in Holly Village

    • I am a negotiator for a reputable estate agent office in Holly Village where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Holly Village conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Do you have any advice for leasehold conveyancing in Holly Village from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Holly Village can be reduced if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
    • The majority landlords or Management Companies in Holly Village levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Holly Village.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Holly Village leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor in advance.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Arranging a duplicate share certificate can be a lengthy formality and delays many a Holly Village home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • We expect to complete the disposal of our £425000 maisonette in Holly Village next Thursday . The freeholder has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Holly Village?

    Holly Village conveyancing on leasehold maisonettes more often than not necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to complete the sale of your home.

    I am the registered owner of a second floor flat in Holly Village. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

    Where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price.

    An example of a Lease Extension decision for a Holly Village residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired term was 56 years.

    Other Topics

    Lease Extensions in Holly Village