Guaranteed fixed fees for Leasehold Conveyancing in Hyde Park

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When it comes to leasehold conveyancing in Hyde Park, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Nationwide make sure you choose a lawyer on their approved list. Feel free to use our search tool

Common questions relating to Hyde Park leasehold conveyancing

I am hoping to sign contracts shortly on a leasehold property in Hyde Park. Conveyancing solicitors assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Hyde Park should include some of the following:

  • You should be sent a copy of the lease
  • The physical extent of the premises. This will be the apartment itself but might include a roof space or basement if applicable.
  • Are pets allowed in the flat?
  • Whether the lease restricts you from letting out the property, or working from home
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Hyde Park please ask your conveyancer in ahead of your conveyancing in Hyde Park

    • I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Hyde Park. Conveyancing advisers have are about to be instructed. Will they explain the issues?

    The majority of houses in Hyde Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Hyde Park in which case you should be looking for a Hyde Park conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

    Back In 2007, I bought a leasehold flat in Hyde Park. Conveyancing and The Mortgage Works mortgage are in place. 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 1991. The conveyancing solicitor in Hyde Park who acted for me is not around.Do I pay?

    First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Hyde Park conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of flats in Hyde Park both have approximately 50 years unexpired on the lease term. Do I need to be concerned?

    There are plenty of short leases in Hyde Park. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

    Do you have any top tips for leasehold conveyancing in Hyde Park from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Hyde Park can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
    • The majority landlords or managing agents in Hyde Park levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Hyde Park.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Hyde Park leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such works. If you dont have the approvals in place you should not contact the landlord without contacting your conveyancer in the first instance.
  • Some Hyde Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Hyde Park Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

      Does the lease contain onerous restrictions? Who is in charge of the building? The best form of lease structure is a share of the freehold. In this situation the lessees enjoy control and even though a managing agent is often retained if it is bigger than a house conversion, the managing agent retained by the leaseholders.

    Other Topics

    Lease Extensions in Hyde Park