I am in need of some leasehold conveyancing in Hunstanton. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Hunstanton - then the leasehold title will always include the basic details 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.

I have just started marketing my garden flat in Hunstanton.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you pay the service charge 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.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Hunstanton. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Hunstanton ?

Most houses in Hunstanton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Hunstanton so you should seriously consider looking for a Hunstanton conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.

I am a negotiator for a reputable estate agent office in Hunstanton where we have witnessed a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Hunstanton conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

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.

What are the common deficiencies that you come across in leases for Hunstanton properties?

There is nothing unique about leasehold conveyancing in Hunstanton. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

Hunstanton Leasehold Conveyancing - Examples of Questions you should consider before buying

If a Hunstanton lease has no more than eighty years it will impact the value of the property. It is worth checking with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would need to own the residence for 24 months in order to be eligible to extend the lease. The answer will be important as a) areas could cause problems for the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have all the details How many of the leaseholders are in arrears for their maintenance charge payments?

Other Topics

Lease Extensions in Hunstanton