Leasehold Conveyancing in Byfleet - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Byfleet, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, RBS or Bradford & Bingley be sure to choose a lawyer on their panel. Feel free to use our search tool

Frequently asked questions relating to Byfleet leasehold conveyancing

Expecting to sign contracts shortly on a studio apartment in Byfleet. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Byfleet should include some of the following:

  • The physical extent of the property. This will be the property itself but could also include a roof space or cellar if applicable.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Byfleet please enquire of your lawyer in advance of your conveyancing in Byfleet

    • Back In 2009, I bought a leasehold house in Byfleet. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Byfleet who previously acted has long since retired.Any advice?

    The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Byfleet conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a couple of flats in Byfleet which have approximately fifty years remaining on the lease term. should I be concerned?

    There are no two ways about it. A leasehold flat in Byfleet is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Byfleet conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Do you have any top tips for leasehold conveyancing in Byfleet with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Byfleet can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Byfleet state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your conveyancer in advance.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a time consuming formality and delays many a Byfleet conveyancing deal. If a duplicate share certificate is required, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • What are the frequently found problems that you see in leases for Byfleet properties?

    Leasehold conveyancing in Byfleet is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Royal Bank of Scotland, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    Byfleet Leasehold Conveyancing - A selection of Questions you should consider before buying

      Who are the managing agents? In the main the cost for major works are not incorporated into the service charges, although some managing agents in Byfleet ask leaseholders to contribute towards a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance. The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the lessees enjoy being in charge if their destiny and even though a managing agent is usually retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.

    Other Topics

    Lease Extensions in Byfleet