I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Hayes. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Hayes ?

Most houses in Hayes are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Hayes in which case you should be shopping around for a Hayes 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. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Hayes both have approximately forty five years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Hayes is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat 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 Hayes 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.

Can you offer any advice when it comes to appointing a Hayes conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Hayes conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Hayes conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

We expect to complete our sale of a £125000 apartment in Hayes in six days. The management company has quoted £360 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Hayes?

Hayes conveyancing on leasehold flats normally involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

I have had difficulty in trying to reach an agreement for a lease extension in Hayes. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most certainly. We can put you in touch with a Hayes conveyancing firm who can help.

An example of a Lease Extension decision for a Hayes flat is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 50.57 years.

What makes a Hayes lease defective?

There is nothing unique about leasehold conveyancing in Hayes. All leases are unique and drafting errors can sometimes mean that certain sections are wrong. 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.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Godiva Mortgages Ltd all have very detailed requirements 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 grant the mortgage, forcing the purchaser to withdraw.