Guaranteed fixed fees for Leasehold Conveyancing in Ascot

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When it comes to leasehold conveyancing in Ascot, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Ascot

I am in need of some leasehold conveyancing in Ascot. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is registered - and 99.9% are in Ascot - then the leasehold title will always include the short particulars 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.

I have recently realised that I have Sixty One years left on my lease in Ascot. I need to extend my lease but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the freeholder. On the whole a specialist may be useful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Ascot.

I am tempted by the attractive purchase price for a two apartments in Ascot which have approximately 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Ascot. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to finding a Ascot conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Ascot conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Ascot conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Ascot who can give a testimonial?

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

    • Much of the delay in leasehold conveyancing in Ascot can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Ascot leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. Should you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer before hand.
  • A minority of Ascot leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Organising a replacement share certificate is often a time consuming formality and slows down many a Ascot home move. If a reissued share is needed, 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 it would be advisable double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I acquired a split level flat in Ascot, conveyancing was carried out in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Ascot with a long lease are worth £235,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2089

    You have 66 years remaining on your lease we estimate the price of your lease extension to span between £12,400 and £14,200 plus legals.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Ascot