Bracknell leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Bracknell. Before I get started I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Bracknell - 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.
Helen (my wife) and I may need to let out our Bracknell garden flat temporarily due to a new job. We instructed a Bracknell conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Bracknell do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I’m about to sell my garden flat in Bracknell.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 management companies will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
What are your top tips when it comes to appointing a Bracknell conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Bracknell conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak 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 might be of use:
- How experienced is the practice with lease extension legislation?
All being well we will complete our sale of a £375000 flat in Bracknell next Tuesday . The landlords agents has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bracknell?
Bracknell conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.
I inherited a basement flat in Bracknell, conveyancing was carried out 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Bracknell with a long lease are worth £166,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2080
With only 59 years left to run we estimate the price of your lease extension to range between £20,900 and £24,200 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.