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

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

Questions and Answers: Hanworth leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Hanworth. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Hanworth - 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.

Looking forward to sign contracts shortly on a leasehold property in Hanworth. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Hanworth should include some of the following:

  • The unexpired lease term 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, freeholder
  • You should be told what counts as a Nuisance in the lease
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Hanworth please ask your conveyancer in advance of your conveyancing in Hanworth

    • I am a negotiator for a long established estate agency in Hanworth where we have experienced a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local Hanworth conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    What are your top tips when it comes to finding a Hanworth conveyancing practice to deal with our lease extension?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Hanworth conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Hanworth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions has the firm carried out in Hanworth in the last twenty four months?

    • Do you have any top tips for leasehold conveyancing in Hanworth with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Hanworth can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • Many freeholders or managing agents in Hanworth charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought 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 reason for frustration in leasehold conveyancing in Hanworth.
  • Some Hanworth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand 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 buyers or their lawyers.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a new share certificate can be a time consuming process and delays many a Hanworth conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the leaseholder of a ground flat in Hanworth. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

    if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the price.

    An example of a Lease Extension decision for a Hanworth property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The remaining number of years on the lease was 82.93 years.

    Other Topics

    Lease Extensions in Hanworth