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

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Frequently asked questions relating to Harold Wood leasehold conveyancing

My husband and I may need to let out our Harold Wood garden flat for a while due to taking a sabbatical. We instructed a Harold Wood conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

Even though your last Harold Wood conveyancing solicitor is no longer around you can check your lease to check if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you are obliged to obtain consent from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord for their consent.

I have just started marketing my ground floor apartment in Harold Wood.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold house in Harold Wood. Conveyancing and Nottingham Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Harold Wood who previously acted has long since retired.What should I do?

First contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Harold Wood conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any top tips for leasehold conveyancing in Harold Wood from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Harold Wood can be avoided where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Harold Wood leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. If you dont have the paperwork in place do not contact the landlord without contacting your solicitor first.
  • A minority of Harold Wood 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. The bank reference will need to confirm that the buyers are 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 have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a duplicate share certificate can be a lengthy process and frustrates many a Harold Wood conveyancing deal. Where a duplicate share is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • We have reached the end of our tether in seeking a lease extension in Harold Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most certainly. We are happy to put you in touch with a Harold Wood conveyancing firm who can help.

    An example of a Lease Extension case for a Harold Wood 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 affected 1 flat. The unexpired term was 57.5 years.

    When it comes to leasehold conveyancing in Harold Wood what are the most common lease problems?

    Leasehold conveyancing in Harold Wood is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • 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. HSBC Bank, Norwich and Peterborough Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Harold Wood