Recently asked questions relating to Burnham leasehold conveyancing
I am on look out for some leasehold conveyancing in Burnham. Before I get started I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Burnham - 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.
Having checked my lease I have discovered that there are only 62 years left on my lease in Burnham. I need to get lease extension but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations a specialist would be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Burnham.
I have just appointed agents to market my garden flat in Burnham.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – Do I pay up?
It best that you 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 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 today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Burnham. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Burnham ?
The majority of houses in Burnham are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Burnham so you should seriously consider looking for a Burnham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.
Can you provide any top tips for leasehold conveyancing in Burnham with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Burnham can be bypassed if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Burnham state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such changes. Where you fail to have the paperwork in place you should not contact the landlord without checking with your conveyancer in the first instance.
I invested in buying a garden flat in Burnham, conveyancing having been completed 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Burnham with an extended lease are worth £204,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2085
With just 60 years remaining on your lease the likely cost is going to range between £23,800 and £27,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
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