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

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Frequently asked questions relating to South Hornchurch leasehold conveyancing

Frank (my husband) and I may need to sub-let our South Hornchurch basement flat temporarily due to a career opportunity. We used a South Hornchurch conveyancing practice in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates relations between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in South Hornchurch do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Planning to sign contracts shortly on a basement flat in South Hornchurch. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • Defining your rights in relation to the communal areas in the building.For example, does the lease provide for a right of way over an accessway or hallways?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Whether the lease restricts you from letting out the flat, 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
  • Whether your lease has a provision for a sinking fund?
  • 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 For details of the information to be included in your report on your leasehold property in South Hornchurch please enquire of your solicitor in ahead of your conveyancing in South Hornchurch

    • I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in South Hornchurch. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

    Most houses in South Hornchurch 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. We note that you are purchasing in South Hornchurch so you should seriously consider shopping around for a South Hornchurch conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.

    Can you provide any top tips for leasehold conveyancing in South Hornchurch with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in South Hornchurch can be bypassed if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
    • A minority of South Hornchurch leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (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 purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Organising a re-issued share certificate can be a time consuming process and frustrates many a South Hornchurch home move. Where a new share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in South Hornchurch. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Absolutely. We are happy to put you in touch with a South Hornchurch conveyancing firm who can help.

    An example of a Lease Extension decision for a South Hornchurch premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term was 57.5 years.

    Are there common deficiencies that you see in leases for South Hornchurch properties?

    Leasehold conveyancing in South Hornchurch is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • 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 issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Virgin Money, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.