Fixed-fee leasehold conveyancing in Bicester:

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Frequently asked questions relating to Bicester leasehold conveyancing

I am on look out for some leasehold conveyancing in Bicester. Before I get started I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Bicester - 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.

There are only 72 years remaining on my lease in Bicester. I now wish to extend my lease but my freeholder is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. For most situations a specialist would be helpful to try and locate and to produce an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Bicester.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bicester. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bicester ?

The majority of houses in Bicester are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Bicester so you should seriously consider looking for a Bicester conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

What advice can you give us when it comes to finding a Bicester conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Bicester conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Bicester conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How experienced is the practice with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Bicester with the aim of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bicester can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • Some Bicester leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 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 purchasers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Arranging a new share certificate is often a lengthy formality and delays many a Bicester home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Bicester - Examples of Questions you should ask Prior to buying

      It would be prudent to discover as much as possible concerning the company managing the block as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues such as the upkeep of the common parts. Don't be shy to ask prospective neighbours if they are happy with them. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds. The best form of lease structure is a share of the freehold. In this situation the lessees enjoy control and notwithstanding that a managing agent is usually employed if the building is larger than a house conversion, the managing agent is directed by the tenants. Does this lease have in excess of 85 years left?

    Other Topics

    Lease Extensions in Bicester