I am in need of some leasehold conveyancing in Hampton. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Hampton - 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 am attracted to a couple of apartments in Hampton both have about 50 years unexpired on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Hampton is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and lenders, 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 premises 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 Hampton 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.

Can you provide any top tips for leasehold conveyancing in Hampton from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Hampton can be avoided if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
• Many landlords or Management Companies in Hampton charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Hampton.

In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Hampton leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you fail to have the approvals to hand do not contact the landlord without checking with your lawyer in advance.

If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate can be a lengthy process and slows down many a Hampton home move. If a new share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Completion in due on the sale of our £375000 flat in Hampton in just under a week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Hampton?

For the majority of leasehold sales in Hampton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract questions
• Where consent is required before sale in Hampton
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Hampton leasehold property is £350. For Hampton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

We have reached the end of our tether in negotiating a lease extension in Hampton. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

An example of a Lease Extension decision for a Hampton flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The unexpired lease term was 82.93 years.

In relation to leasehold conveyancing in Hampton what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Hampton. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Other Topics

Lease Extensions in Hampton