Recently asked questions relating to Bracknell leasehold conveyancing
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Bracknell. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Bracknell ?
The majority of houses in Bracknell are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Bracknell so you should seriously consider looking for a Bracknell conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
Back In 2003, I bought a leasehold flat in Bracknell. Conveyancing and Coventry Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Bracknell who previously acted has now retired.Do I pay?
First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Bracknell conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to choosing a Bracknell conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Bracknell conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Bracknell conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How familiar is the practice with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Bracknell from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Bracknell can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority landlords or managing agents in Bracknell levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding 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 frustration in leasehold conveyancing in Bracknell.
We expect to complete our sale of a £150000 maisonette in Bracknell in 8 days. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bracknell?
Bracknell conveyancing on leasehold maisonettes usually necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to sell the property.
I acquired a 1 bedroom flat in Bracknell, conveyancing was carried out in 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Bracknell with an extended lease are worth £184,000. The average or mid-range amount of ground rent is £60 levied per year. The lease terminates on 21st October 2102
With just 77 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
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