Experts for Leasehold Conveyancing in Highams Park

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Highams Park, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Highams Park leasehold conveyancing

I am in need of some leasehold conveyancing in Highams Park. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Highams Park - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am intending to sublet my leasehold apartment in Highams Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Highams Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Highams Park. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Highams Park ?

The majority of houses in Highams Park 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 clear that you are purchasing in Highams Park in which case you should be shopping around for a Highams Park conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

Do you have any top tips for leasehold conveyancing in Highams Park with the purpose of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Highams Park can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
  • Some Highams Park leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate is often a lengthy process and frustrates many a Highams Park conveyancing transaction. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • I own a two-bedroom flat in Highams Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

    Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the amount due.

    An example of a Freehold Enfranchisement case for a Highams Park flat is 48 Greenleaf Road in December 2009. the lessees sought to exercise their right to purchase the freehold from the landlord by way of collective enfranchisement in accordance with the Leasehold Reform Housing and Urban Development Act 1993.The landlord could not be found.A vesting order was granted from the Bow County Court on 10 September 2007 (Claim No: 8BO04141). The Tribunal held that the premium to be paid was £3,850 This case related to 2 flats. The remaining number of years on the lease was 104 years.

    In relation to leasehold conveyancing in Highams Park what are the most common lease defects?

    Leasehold conveyancing in Highams Park is not unique. All leases are unique and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • 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

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Barclays Direct 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 grant the mortgage, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Highams Park