Leasehold Conveyancing in Bourton on the Water - Get a Quote from the leasehold experts approved by your lender

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Recently asked questions relating to Bourton on the Water leasehold conveyancing

I am in need of some leasehold conveyancing in Bourton on the Water. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Bourton on the Water - 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.

There are only 62 years remaining on my flat in Bourton on the Water. I now want to get lease extension but my landlord 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. For most situations an enquiry agent may be helpful to try and locate and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Bourton on the Water.

Due to sign contracts shortly on a ground floor flat in Bourton on the Water. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Bourton on the Water 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 the 80 year mark
  • The physical extent of the premises. This will be the property itself but may incorporate a roof space or basement if appropriate.
  • Defining your legal entitlements in respect of the communal areas in the building.E.G., does the lease permit a right of way over a path or staircase?
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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 reserve fund? For details of the information to be included in your report on your leasehold property in Bourton on the Water please enquire of your conveyancer in ahead of your conveyancing in Bourton on the Water

    • I've recently bought a leasehold house in Bourton on the Water. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    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. It is an essential part 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).

    Can you provide any top tips for leasehold conveyancing in Bourton on the Water from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bourton on the Water can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Bourton on the Water charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bourton on the Water.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Bourton on the Water state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you fail to have the paperwork to hand do not contact the landlord without checking with your lawyer before hand.
  • A minority of Bourton on the Water 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 bank and professional references. The bank reference will need to confirm that the buyers are 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 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 freehold, you should ensure that you are holding the original share document. Arranging a duplicate share certificate is often a lengthy formality and frustrates many a Bourton on the Water home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

    • I bought a split level flat in Bourton on the Water, conveyancing having been completed 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Bourton on the Water with a long lease are worth £213,000. The ground rent is £55 yearly. The lease expires on 21st October 2102

    With just 77 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as costs.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bourton on the Water