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Leasehold conveyancing in Addlestone is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Addlestone and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Addlestone

Helen (my wife) and I may need to let out our Addlestone basement flat temporarily due to a new job. We instructed a Addlestone conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease governs the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Addlestone do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Planning to sign contracts shortly on a ground floor flat in Addlestone. Conveyancing lawyers have said that they are sending me a report next week. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Addlestone please enquire of your lawyer in advance of your conveyancing in Addlestone

    • I have just started marketing my ground floor apartment in Addlestone.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – what should I do?

    The sensible thing to do is discharge 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.

    Do you have any top tips for leasehold conveyancing in Addlestone with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Addlestone can be reduced where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Addlestone levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Addlestone.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Addlestone leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the consents to hand you should not contact the landlord without contacting your conveyancer in advance.
  • A minority of Addlestone leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing 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 clearly preferable to reveal the dispute as over rather than unresolved.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Addlestone conveyancing firm to assist?

    if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price.

    An example of a Lease Extension decision for a Addlestone premises is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The remaining number of years on the lease was 82.93 years.

    In relation to leasehold conveyancing in Addlestone what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Addlestone. Most leases is drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • 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 primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton 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 is problematic they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Addlestone