Guaranteed fixed fees for Leasehold Conveyancing in Hanwell

Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Hanwell, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Hanwell

I own a leasehold flat in Hanwell. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Hanwell who acted for me is not around.What should I do?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Hanwell conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in Hanwell which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable 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 properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

What are your top tips when it comes to finding a Hanwell conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Hanwell conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Hanwell conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • How experienced is the practice with lease extension legislation?
  • What are the charges for lease extension conveyancing?

  • Do you have any top tips for leasehold conveyancing in Hanwell from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Hanwell can be reduced where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Hanwell levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. 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 common cause of delay in leasehold conveyancing in Hanwell.
  • Some Hanwell leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Obtaining a new share certificate is often a time consuming process and slows down many a Hanwell conveyancing deal. Where a new share is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • I am the leaseholder of a garden flat in Hanwell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

    if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price.

    An example of a Freehold Enfranchisement case for a Hanwell flat is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case related to 2 flats. The unexpired lease term was 72.39 years.

    In relation to leasehold conveyancing in Hanwell what are the most common lease problems?

    Leasehold conveyancing in Hanwell is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Hanwell