Leasehold Conveyancing in Hook - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Hook

Due to sign contracts shortly on a leasehold property in Hook. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Hook should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the demise. This will be the apartment itself but might incorporate a roof space or basement if applicable.
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be included in your report on your leasehold property in Hook please ask your lawyer in advance of your conveyancing in Hook

    • Back In 2007, I bought a leasehold flat in Hook. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Hook who previously acted has now retired.Do I pay?

    First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Hook conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am tempted by the attractive purchase price for a two maisonettes in Hook which have about fifty years unexpired on the leases. Will this present a problem?

    There are plenty of short leases in Hook. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

    Can you offer any advice when it comes to finding a Hook conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Hook conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Hook conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

    • How many lease extensions have they conducted in Hook in the last 12 months?
  • Can they put you in touch with client in Hook who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Hook from the perspective of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Hook can be bypassed if you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers conveyancers.
    • Many landlords or managing agents in Hook levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Hook.
  • A minority of Hook leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and frustrates many a Hook home move. If a duplicate share is necessary, do contact the company officers or managing agents (where relevant) for this as soon as possible.

    • I own a basement flat in Hook. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

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

    An example of a Lease Extension case for a Hook premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.

    Other Topics

    Lease Extensions in Hook