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

When it comes to leasehold conveyancing in Maze Hill, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or NatWest be sure to find a lawyer on their panel. Feel free to use our search tool

Maze Hill leasehold conveyancing: Q and A’s

Planning to exchange soon on a ground floor flat in Maze Hill. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Maze Hill should include some of the following:

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your rights in respect of common areas in the block.For example, does the lease include a right of way over a path or staircase?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Maze Hill please ask your lawyer in advance of your conveyancing in Maze Hill

  • I work for a long established estate agent office in Maze Hill where we see a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Maze Hill conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?

    As long as the seller has owned the lease 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 proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

    Alternatively, it may be possible 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.

    What are your top tips when it comes to appointing a Maze Hill conveyancing firm to deal with our lease extension?

    When appointing a conveyancer for lease extension works (regardless if they are a Maze Hill conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Maze Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • If the firm is not ALEP accredited then why not?
  • What are the costs for lease extension work?

  • Do you have any top tips for leasehold conveyancing in Maze Hill from the perspective of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Maze Hill can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
    • The majority landlords or Management Companies in Maze Hill levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. 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 cause of frustration in leasehold conveyancing in Maze Hill.
  • Some Maze Hill 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 bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat 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 completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate can be a lengthy process and slows down many a Maze Hill home move. Where a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

  • After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Maze Hill. Can we issue an application to the Residential Property Tribunal Service?

    if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the premium.

    An example of a Lease Extension case for a Maze Hill residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case was in relation to 2 flats. The the unexpired term as at the valuation date was 72 years.

    What makes a Maze Hill lease unmortgageable?

    Leasehold conveyancing in Maze Hill is not unique. Most leases is drafted differently and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and TSB all have very detailed conveyancing instructions 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, forcing the purchaser to withdraw.