Fixed-fee leasehold conveyancing in Harold Hill:

Get a Quote

Require a conveyancing quote from a solicitor for leasehold conveyancing in Harold Hill on your lender’s panel? Make use of our search tool to find quality local Harold Hill conveyancing lawyers or nationwide solicitors on your lender’s panel .

Frequently asked questions relating to Harold Hill leasehold conveyancing

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Harold Hill. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Harold Hill are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Harold Hill so you should seriously consider looking for a Harold Hill conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

I am looking at a couple of maisonettes in Harold Hill which have in the region of 50 years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Harold Hill is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and banks, 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 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 Harold Hill 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 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.

I am employed by a reputable estate agency in Harold Hill where we see a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Harold Hill conveyancing solicitors. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 choosing a Harold Hill conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Harold Hill conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Harold Hill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If they are not ALEP accredited then what is the reason?
  • How many lease extensions have they conducted in Harold Hill in the last year?

    • Can you provide any advice for leasehold conveyancing in Harold Hill with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Harold Hill can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
    • Many freeholders or managing agents in Harold Hill charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Harold Hill.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Harold Hill state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such changes. Where you dont have the approvals to hand you should not contact the landlord without contacting your conveyancer first.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Arranging a duplicate share certificate can be a lengthy formality and frustrates many a Harold Hill home move. If a new share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the proprietor of a second floor flat in Harold Hill. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

    Most definitely. We are happy to put you in touch with a Harold Hill conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Harold Hill premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.

    Other Topics

    Lease Extensions in Harold Hill