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

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Leasehold conveyancing in Botley 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 Botley and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Botley leasehold conveyancing

Estate agents have just been given the go-ahead to market my 2 bed flat in Botley.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?

It best that you pay the service charge 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 am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Botley. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Botley ?

The majority of houses in Botley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Botley so you should seriously consider shopping around for a Botley conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

My wife and I purchased a leasehold flat in Botley. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Botley who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Botley conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold flat in Botley. Am I liable to pay 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

Do you have any top tips for leasehold conveyancing in Botley with the aim of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Botley can be reduced if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers lawyers.
  • The majority landlords or managing agents in Botley levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Botley.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Botley state that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer before hand.
  • Some Botley 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. Any bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Botley home move. Where a new share is needed, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • I own a split level flat in Botley, conveyancing formalities finalised 1996. How much will my lease extension cost? Equivalent flats in Botley with a long lease are worth £210,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2101

    With only 76 years unexpired the likely cost is going to range between £11,400 and £13,200 as well as legals.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Botley