Leasehold Conveyancing in Hadley Wood - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Hadley Wood, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Hadley Wood leasehold conveyancing

Looking forward to exchange soon on a leasehold property in Hadley Wood. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Hadley Wood should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from letting out the property, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions) For details of the information to be contained in your report on your leasehold property in Hadley Wood please enquire of your solicitor in advance of your conveyancing in Hadley Wood

    • I have just appointed agents to market my ground floor flat in Hadley Wood.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – what should I do?

    The sensible thing to do is clear 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 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. This will smooth the conveyancing process.

    I am looking at a couple of flats in Hadley Wood both have approximately 50 years unexpired on the lease term. should I be concerned?

    There are plenty of short leases in Hadley Wood. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

    I am a negotiator for a long established estate agent office in Hadley Wood where we have experienced a few leasehold sales derailed due to short leases. I have received inconsistent advice from local Hadley Wood conveyancing solicitors. Please can you clarify whether the vendor of a flat can instigate 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 has to be done before, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

    What are your top tips when it comes to choosing a Hadley Wood conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a Hadley Wood conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Hadley Wood conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

    • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Hadley Wood who can give a testimonial?

    • Despite our best endeavours, we have been unsuccessful in seeking a lease extension in Hadley Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. We can put you in touch with a Hadley Wood conveyancing firm who can help.

    An example of a Lease Extension decision for a Hadley Wood premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired lease term was 76 years.

    Other Topics

    Lease Extensions in Hadley Wood