Experts for Leasehold Conveyancing in Hayes

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Common questions relating to Hayes leasehold conveyancing

I am looking at a couple of maisonettes in Hayes both have in the region of 50 years remaining on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold house in Hayes. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

I am a negotiator for a busy estate agency in Hayes where we have experienced a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Hayes conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 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 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 purchaser.

Can you provide any top tips for leasehold conveyancing in Hayes from the point of view of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Hayes can be bypassed where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
  • The majority freeholders or managing agents in Hayes levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Hayes.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Hayes leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such alterations. Should you dont have the paperwork in place you should not communicate with the landlord without contacting your solicitor before hand.
  • A minority of Hayes leases require Landlord’s consent to the sale and approval of the buyers. 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 should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate is often a lengthy formality and delays many a Hayes conveyancing transaction. If a new share is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • If all goes to plan we aim to complete the sale of our £200000 garden flat in Hayes next week. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Hayes?

    Hayes conveyancing on leasehold flats often necessitates the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They may levy a reasonable administration fee for responding to 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 cases it is in excess of £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.

    After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Hayes. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a Hayes flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The remaining number of years on the lease was 69 years.