Fixed-fee leasehold conveyancing in Liphook:

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Liphook, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Liphook leasehold conveyancing

I am on look out for some leasehold conveyancing in Liphook. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Liphook - then the leasehold title will always include the short particulars 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.

Having checked my lease I have discovered that there are only Seventy years left on my lease in Liphook. I am keen to get lease extension but my freeholder is absent. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. For most situations an enquiry agent should be useful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Liphook.

I have just appointed agents to market my 2 bed apartment in Liphook.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – Do I pay up?

The sensible thing to do is discharge the invoice 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.

I am looking at a two flats in Liphook both have in the region of 50 years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Liphook is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive 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 a residence 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 Liphook 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Do you have any top tips for leasehold conveyancing in Liphook with the purpose of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Liphook can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers lawyers.
  • The majority freeholders or managing agents in Liphook charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have 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 common cause of frustration in leasehold conveyancing in Liphook.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Liphook state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the consents in place you should not communicate with the landlord without contacting your solicitor in advance.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is below 75 years. It is therefore essential at an as soon as possible 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.

    • Liphook Conveyancing for Leasehold Flats - Examples of Queries before buying

      Generally speaking the outlay for major works tend not to be included within maintenance charges, albeit that some managing agents in Liphook obliged leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for major works. Who is in charge of the block? Are any of leasehold owners in dispute over their service charge payments?

    Other Topics

    Lease Extensions in Liphook