Guaranteed fixed fees for Leasehold Conveyancing in Herne Hill

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When it comes to leasehold conveyancing in Herne Hill, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or Bradford & Bingley make sure you find a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to Herne Hill leasehold conveyancing

Estate agents have just been given the go-ahead to market my basement apartment in Herne Hill.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – what should I do?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

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

Most houses in Herne Hill are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Herne Hill so you should seriously consider looking for a Herne Hill conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I am attracted to a two apartments in Herne Hill both have approximately forty five years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Herne Hill. The 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. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

I am a negotiator for a reputable estate agency in Herne Hill where we have experienced a few flat sales put at risk due to short leases. I have received conflicting advice from local Herne Hill conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 buyer 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 at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Do you have any top tips for leasehold conveyancing in Herne Hill from the perspective of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Herne Hill can be reduced 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 conveyancers.
  • Many freeholders or managing agents in Herne Hill levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. 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 Herne Hill.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Herne Hill state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. Where you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer first.
  • A minority of Herne Hill leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a lengthy process and frustrates many a Herne Hill conveyancing transaction. Where a reissued share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.

    • I am the proprietor of a first floor flat in Herne Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

    if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the amount due.

    An example of a Freehold Enfranchisement case for a Herne Hill flat is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case related to 3 flats. The remaining number of years on the lease was 72.58 years.

    Other Topics

    Lease Extensions in Herne Hill