Fixed-fee leasehold conveyancing in Howden:

When it comes to leasehold conveyancing in Howden, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or Nationwide make sure you find a lawyer on their panel. Feel free to use our search tool

Howden leasehold conveyancing Example Support Desk Enquiries

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Howden. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Howden ?

The majority of houses in Howden are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Howden in which case you should be looking for a Howden conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Howden which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Howden is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and banks, leases with less than 75 years become less and less attractive. 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 Howden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Last month I purchased a leasehold flat in Howden. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to appointing a Howden conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Howden conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Howden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

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

  • Can you provide any advice for leasehold conveyancing in Howden with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Howden can be reduced if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
    • The majority freeholders or Management Companies in Howden levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Howden.
  • Some Howden 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 bank and professional references. The bank reference should make it clear that the buyer is 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 lawyers.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a re-issued share certificate can be a time consuming formality and slows down many a Howden home move. Where a new share is required, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • Leasehold Conveyancing in Howden - Sample of Queries Prior to buying

      Best to be warned whether changing the roof or some other significant cost is anticipated that will be shared between the leaseholders and will materially increase the the service fees or require a specific payment. It would be sensible to find out as much as you can about the managing agents as they can either make your life much easier or uncomfortable. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical issues such as the cleanliness of the communal areas. Don't be afraid to ask other tenants whether they are happy with them. On a final note, be sure you discover the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money. What restrictions are contained in the Howden Lease?

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    Lease Extensions in Howden