I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Oakhill. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Oakhill are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Oakhill so you should seriously consider shopping around for a Oakhill conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of maisonettes in Oakhill which have about 50 years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Oakhill. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

What are your top tips when it comes to finding a Oakhill conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Oakhill conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Oakhill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the firm with lease extension legislation?

Can they put you in touch with client in Oakhill who can give a testimonial?

Do you have any advice for leasehold conveyancing in Oakhill from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Oakhill can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
• Many landlords or managing agents in Oakhill charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Oakhill.

If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than unresolved.

If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a duplicate share certificate is often a lengthy process and frustrates many a Oakhill conveyancing transaction. Where a duplicate share is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential 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 premises on the market for sale.

If all goes to plan we aim to complete the disposal of our £400000 maisonette in Oakhill in nine days. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Oakhill?

Oakhill conveyancing on leasehold maisonettes typically necessitates fees being invoiced by freeholders :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Oakhill
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Oakhill leasehold premises is £350. For Oakhill conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Oakhill conveyancing firm to assist?

Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price payable.

An example of a Freehold Enfranchisement case for a Oakhill flat is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The the number of years remaining on the existing lease(s) was 69.26 years.

Other Topics

Lease Extensions in Oakhill