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

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Monken Hadley, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Monken Hadley leasehold conveyancing

I am in need of some leasehold conveyancing in Monken Hadley. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Monken Hadley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Expecting to exchange soon on a basement flat in Monken Hadley. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Monken Hadley should include some of the following:

  • You should be sent a copy of the lease
  • Defining your rights in respect of the communal areas in the building.For example, does the lease include a right of way over an accessway or staircase?
  • You should be told what constitutes a Nuisance in the lease
  • 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?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Monken Hadley please ask your solicitor in advance of your conveyancing in Monken Hadley

    • I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Monken Hadley. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

    The majority of houses in Monken Hadley are freehold rather than 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 Monken Hadley in which case you should be shopping around for a Monken Hadley conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’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 appraise you on the various issues.

    I am attracted to a two maisonettes in Monken Hadley both have about 50 years unexpired on the lease term. Will this present a problem?

    A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

    I've recently bought a leasehold property in Monken Hadley. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).

    My wife and I have hit a brick wall in seeking a lease extension in Monken Hadley. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most certainly. We can put you in touch with a Monken Hadley conveyancing firm who can help.

    An example of a Lease Extension case for a Monken Hadley flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 76 years.