Quality lawyers for Leasehold Conveyancing in Harold Hill

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When it comes to leasehold conveyancing in Harold Hill, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, RBS or Nationwide make sure you find a lawyer on their approved list. Find a Harold Hill conveyancing lawyer with our search tool

Common questions relating to Harold Hill leasehold conveyancing

I am looking at a two apartments in Harold Hill which have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Harold Hill. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not 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 enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold house in Harold Hill. Am I liable to pay service charges for periods before completion of my purchase?

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. Strange as it may seem, 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).

What are your top tips when it comes to finding a Harold Hill conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Harold Hill conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Harold Hill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How familiar is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Harold Hill with the purpose of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Harold Hill can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
    • Many landlords or managing agents in Harold Hill levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Harold Hill.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Harold Hill state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. If you dont have the paperwork in place you should not contact the landlord without checking with your conveyancer first.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Arranging a replacement share certificate can be a lengthy process and slows down many a Harold Hill conveyancing deal. If a new share certificate is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is important at an as soon as possible 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 have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Harold Hill conveyancing firm to help?

    Where there is a missing landlord or if there is dispute 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 make a decision on the premium.

    An example of a Lease Extension case 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 affected 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.

    What makes a Harold Hill lease unmortgageable?

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

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Mortgage Works, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Harold Hill