Sample questions relating to Hurworth leasehold conveyancing
I am in need of some leasehold conveyancing in Hurworth. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Hurworth - 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 appointed agents to market my ground floor apartment in Hurworth.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is clear 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 be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Hurworth. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Hurworth are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Hurworth so you should seriously consider looking for a Hurworth conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.
I work for a reputable estate agent office in Hurworth where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Hurworth conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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. This means that the buyer 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 prior to, or simultaneously with 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.
Can you offer any advice when it comes to finding a Hurworth conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Hurworth conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Hurworth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- Can they put you in touch with client in Hurworth who can give a testimonial?
Hurworth Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
In the main the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Hurworth require leasehold owners to pay into a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance.
What prohibitions are contained in the Hurworth Lease?
The majority of Hurworth leasehold properties will have a service bill for maintenance of the building set by the freeholder. Should you purchase the flat you will have to pay this contribution, usually periodically throughout the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent to be met yearly, normally this is not a significant figure, say around £50-£100 but you need to check it because on occasion it can be many hundreds of pounds.