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

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Caversham, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Caversham leasehold conveyancing Example Support Desk Enquiries

There are only Fifty years left on my flat in Caversham. I now wish to get lease extension but my landlord is missing. 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 enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to find the freeholder. In some cases a specialist may be helpful to try and locate and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Caversham.

I've recently bought a leasehold house in Caversham. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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).

Can you offer any advice when it comes to choosing a Caversham conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Caversham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Caversham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How many lease extensions have they completed in Caversham in the last 12 months?
  • Can they put you in touch with client in Caversham who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Caversham with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Caversham can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers conveyancers.
    • The majority landlords or managing agents in Caversham levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Caversham.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Caversham state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the consents in place do not contact the landlord without checking with your conveyancer in the first instance.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Organising a re-issued share certificate can be a time consuming process and frustrates many a Caversham conveyancing deal. If a new share is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.

    • In relation to leasehold conveyancing in Caversham what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Caversham. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

    Caversham Leasehold Conveyancing - Examples of Questions you should consider before buying

      What restrictions are there in the Caversham Lease? Is the freehold reversion owned jointly by the leaseholders? It would be prudent to find out as much as possible concerning the company managing the block as they will either make your living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters like the tidiness of the communal areas. Don't be shy to ask other people what they think of their management. In conclusion, investigate as to the dates that the service charges are due to the appropriate party and specifically how they are spending that money.

    Other Topics

    Lease Extensions in Caversham