Fixed-fee leasehold conveyancing in Aldborough Hatch:

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Questions and Answers: Aldborough Hatch leasehold conveyancing

I am in need of some leasehold conveyancing in Aldborough Hatch. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Aldborough Hatch - 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.

Planning to exchange soon on a basement flat in Aldborough Hatch. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

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

  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • Whether the lease restricts you from renting out the property, or working from home
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Aldborough Hatch please ask your conveyancer in ahead of your conveyancing in Aldborough Hatch

    • I work for a long established estate agent office in Aldborough Hatch where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Aldborough Hatch conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension process for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible 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 appointing a Aldborough Hatch conveyancing practice to deal with our lease extension?

    When appointing a solicitor for your lease extension (regardless if they are a Aldborough Hatch conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Aldborough Hatch conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • If the firm is not ALEP accredited then why not?
  • How many lease extensions have they completed in Aldborough Hatch in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Aldborough Hatch with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Aldborough Hatch can be reduced if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
    • Many landlords or managing agents in Aldborough Hatch charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Aldborough Hatch.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Aldborough Hatch leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Should you fail to have the consents in place do not contact the landlord without checking with your lawyer in the first instance.
  • Some Aldborough Hatch leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I have had difficulty in trying to purchase the freehold in Aldborough Hatch. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the price.

    An example of a Lease Extension case for a Aldborough Hatch premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The the unexpired residue of the current lease was 61.36 years.