I am in need of some leasehold conveyancing in Bracknell. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and almost all 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.

I am attracted to a two apartments in Bracknell which have about 50 years unexpired on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold property in Bracknell. 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 lessee 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).

I am employed by a long established estate agent office in Bracknell where we see a number of leasehold sales put at risk due to short leases. I have been given conflicting advice from local Bracknell conveyancing firms. Can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to choosing a Bracknell conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Bracknell conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Bracknell conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?

Bracknell Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

How many of the leaseholders are in arrears for their maintenance charge payments? It would be sensible to discover as much as possible about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical issues such as the tidiness of the communal areas. Enquire of other tenants what they think of them. In conclusion, find out the dates that the maintenance fees are due to the managing agents and precisely what you get for your money. Is the freehold owned jointly by the leaseholders?

Other Topics

Lease Extensions in Bracknell