I am in need of some leasehold conveyancing in Hainault. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Hainault - then the leasehold title will always include the basic details 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 today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Hainault. Conveyancing advisers have are about to be 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 assist with the conveyancing process. It is clear that you are purchasing in Hainault in which case you should be shopping around for a Hainault conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am attracted to a two maisonettes in Hainault both have approximately fifty years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Hainault is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more upbeat 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 premises 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 Hainault conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

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

If you are instructing a solicitor for your lease extension (regardless if they are a Hainault conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Hainault conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• If the firm is not ALEP accredited then what is the reason?

All being well we will complete our sale of a £425000 maisonette in Hainault in nine days. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Hainault?

Hainault conveyancing on leasehold maisonettes normally requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hainault conveyancing firm to assist?

in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to calculate the price payable.

An example of a Freehold Enfranchisement decision 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 affected 2 flats. The remaining number of years on the lease was 69.26 years.

Other Topics

Lease Extensions in Hainault