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

Any conveyancing practice can theoretically deal with your leasehold conveyancing in Ham, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Ham leasehold conveyancing: Q and A’s

I have recently realised that I have 62 years unexpired on my flat in Ham. I am keen to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. On the whole a specialist may be helpful to try and locate and prepare a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Ham.

I am hoping to sign contracts shortly on a basement flat in Ham. Conveyancing solicitors assured me that they are sending me a report 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 Ham should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Setting out your rights in respect of common areas in the block.E.G., does the lease grant a right of way over a path or hallways?
  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • 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
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Ham please ask your conveyancer in advance of your conveyancing in Ham

  • I am looking at a couple of flats in Ham which have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

    There is no doubt about it. A leasehold flat in Ham is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with under eighty 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 Ham 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 any new 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.

    Last month I purchased a leasehold property in Ham. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Can you offer any advice when it comes to appointing a Ham conveyancing firm to carry out our lease extension conveyancing?

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

    • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

  • Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Ham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We can put you in touch with a Ham conveyancing firm who can help.

    An example of a Lease Extension decision for a Ham residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.

    Other Topics

    Lease Extensions in Ham