Frequently asked questions relating to Hurst Green leasehold conveyancing
There are only 72 years left on my lease in Hurst Green. I now wish to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent would be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Hurst Green.
I own a leasehold flat in Hurst Green. Conveyancing and Alliance & Leicester mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Hurst Green who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to instruct a Hurst Green conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a couple of flats in Hurst Green both have approximately forty five years remaining on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
Can you offer any advice when it comes to choosing a Hurst Green conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Hurst Green conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Hurst Green conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
What are the frequently found problems that you see in leases for Hurst Green properties?
Leasehold conveyancing in Hurst Green is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair 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 can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.
Hurst Green Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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What prohibitions exist in the Hurst Green Lease?
If a Hurst Green lease has less than 80 years it will affect the marketability of the flat. Check with your bank that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you will need to own the property for a couple of years before you are legally able to extend the lease.
Most Hurst Green leasehold flats will be liable to pay a service charge for maintenance of the block invoiced on behalf of the freeholder. If you buy the property you will have to meet this amount, usually periodically throughout the year. This may vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met yearly, ordinarily this is not a large sum, say around £25-£75 but you should to check it because on occasion it can be many hundreds of pounds.
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