Hainault leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Hainault. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Hainault - 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.
I have just appointed agents to market my basement flat in Hainault.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – Do I pay up?
It best that you pay the service charge 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've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Hainault. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Hainault are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Hainault so you should seriously consider shopping around for a Hainault conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.
I am attracted to a two apartments in Hainault which have approximately fifty years unexpired on the lease term. should I be concerned?
There are plenty of short leases in Hainault. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
Do you have any top tips for leasehold conveyancing in Hainault from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hainault can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
- Many landlords or Management Companies in Hainault 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 accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Hainault.
I am the registered owner of a ground floor flat in Hainault. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Hainault conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Hainault residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The remaining number of years on the lease was 69.26 years.