Guaranteed fixed fees for Leasehold Conveyancing in Crowthorne

Leasehold conveyancing in Crowthorne is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Crowthorne and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Crowthorne

Having checked my lease I have discovered that there are only 62 years left on my flat in Crowthorne. I now want to get lease extension but my landlord is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to find the landlord. For most situations an enquiry agent would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court covering Crowthorne.

Last month I purchased a leasehold house in Crowthorne. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner 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 a negotiator for a long established estate agency in Crowthorne where we see a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Crowthorne conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 Crowthorne conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Crowthorne conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Crowthorne conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Crowthorne who can give a testimonial?

  • Do you have any top tips for leasehold conveyancing in Crowthorne with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Crowthorne can be reduced if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
    • The majority freeholders or managing agents in Crowthorne levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Crowthorne.
  • Some Crowthorne leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to 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 reveal the dispute as over rather than unsettled.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming formality and frustrates many a Crowthorne home move. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.

  • I own a 1 bedroom flat in Crowthorne, conveyancing formalities finalised 2010. How much will my lease extension cost? Equivalent properties in Crowthorne with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2088

    With 64 years remaining on your lease we estimate the price of your lease extension to be between £19,000 and £22,000 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns 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 before getting professional advice.

    Other Topics

    Lease Extensions in Crowthorne