Fixed-fee leasehold conveyancing in Gants Hill:

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Recently asked questions relating to Gants Hill leasehold conveyancing

Back In 2002, I bought a leasehold flat in Gants Hill. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Gants Hill who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Gants Hill conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Gants Hill both have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Gants Hill is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Gants Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to choosing a Gants Hill conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Gants Hill conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Gants Hill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How familiar is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any top tips for leasehold conveyancing in Gants Hill with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Gants Hill can be reduced where you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers representatives.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Gants Hill leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such changes. If you dont have the paperwork to hand do not communicate with the landlord without contacting your solicitor first.
  • Some Gants Hill leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The 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 solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Organising a new share certificate can be a time consuming process and slows down many a Gants Hill conveyancing transaction. Where a new share is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Gants Hill conveyancing firm to assist?

    in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to make a decision on the amount due.

    An example of a Freehold Enfranchisement case for a Gants Hill residence is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The unexpired lease term was 65 and 61.

    What makes a Gants Hill lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Gants Hill. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • Insurance obligations
    • 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Godiva Mortgages Ltd all have very detailed 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 grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Gants Hill