Leasehold Conveyancing in Cambridge Heath - Get a Quote from the leasehold experts approved by your lender

Leasehold conveyancing in Cambridge Heath is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Cambridge Heath and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Cambridge Heath leasehold conveyancing

My husband and I may need to let out our Cambridge Heath basement flat for a while due to a career opportunity. We instructed a Cambridge Heath conveyancing practice in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Cambridge Heath conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of prior permission. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Planning to complete next month on a studio apartment in Cambridge Heath. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the property. This will be the property itself but might include a loft or cellar if appropriate.
  • Whether your lease has a provision for a reserve fund?
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be included in your report on your leasehold property in Cambridge Heath please ask your lawyer in advance of your conveyancing in Cambridge Heath

  • I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Cambridge Heath. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Cambridge Heath ?

    The majority of houses in Cambridge Heath are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Cambridge Heath so you should seriously consider looking for a Cambridge Heath conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

    I am tempted by the attractive purchase price for a two maisonettes in Cambridge Heath which have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Cambridge Heath is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under 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 property 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 property 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 Cambridge Heath 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 the agreed 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 Cambridge Heath from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Cambridge Heath can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Cambridge Heath leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you dont have the paperwork to hand you should not contact the landlord without checking with your conveyancer in advance.
  • A minority of Cambridge Heath leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle 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 details of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a duplicate share certificate can be a time consuming formality and slows down many a Cambridge Heath conveyancing transaction. Where a reissued share is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

  • I am the registered owner of a a ground floor purpose built flat in Cambridge Heath. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

    in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the sum to be paid.

    An example of a Freehold Enfranchisement matter before the tribunal for a Cambridge Heath premises is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.