Fixed-fee leasehold conveyancing in Horley:

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Questions and Answers: Horley leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Horley. Before I get started I would like to find out the remaining lease term.

Assuming the lease is registered - and 99.9% are in Horley - 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.

Expecting to sign contracts shortly on a ground floor flat in Horley. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Whether the lease restricts you from letting out the flat, or having a home office for business
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • 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
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Horley please enquire of your conveyancer in ahead of your conveyancing in Horley

    • I own a leasehold flat in Horley. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Horley who acted for me is not around.Any advice?

    The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Horley conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    What advice can you give us when it comes to choosing a Horley conveyancing firm to deal with our lease extension?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Horley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Horley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Horley who can give a testimonial?

    • What are the frequently found defects that you see in leases for Horley properties?

    There is nothing unique about leasehold conveyancing in Horley. Most leases is drafted differently and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • 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

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

    I acquired a 2 bed flat in Horley, conveyancing was carried out 2003. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Horley with an extended lease are worth £215,000. The ground rent is £65 invoiced every year. The lease ends on 21st October 2104

    With only 79 years left to run we estimate the price of your lease extension to be between £11,400 and £13,200 as well as legals.

    The figure above a general guide to costs for extending a lease, but we cannot give you 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 additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Horley