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

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

Common questions relating to Hamworthy leasehold conveyancing

Harry (my fiance) and I may need to rent out our Hamworthy garden flat temporarily due to a career opportunity. We used a Hamworthy conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Hamworthy 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 see references. Experience dictates 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 appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Hamworthy. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Hamworthy are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Hamworthy in which case you should be looking for a Hamworthy conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

Last month I purchased a leasehold property in Hamworthy. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Hamworthy with the aim of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Hamworthy can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Hamworthy charge for providing management packs for a leasehold property. You or your lawyers should discover 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 Hamworthy.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Hamworthy leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the approvals to hand you should not contact the landlord without contacting your lawyer first.
  • A minority of Hamworthy leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 lawyers.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and frustrates many a Hamworthy conveyancing deal. If a reissued share certificate is necessary, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • What are the common deficiencies that you encounter in leases for Hamworthy properties?

    Leasehold conveyancing in Hamworthy is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    I acquired a studio flat in Hamworthy, conveyancing formalities finalised in 2004. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Hamworthy with an extended lease are worth £235,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2092

    With 68 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 plus professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Hamworthy