Fixed-fee leasehold conveyancing in Datchet:

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Common questions relating to Datchet leasehold conveyancing

I would like to let out my leasehold flat in Datchet. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease dictates the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Datchet do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I am a negotiator for a reputable estate agency in Datchet where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Datchet conveyancing firms. Please can you confirm whether the owner of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is 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 buyer.

What advice can you give us when it comes to choosing a Datchet conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Datchet conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Datchet conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • If they are not ALEP accredited then what is the reason?
  • What are the costs for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Datchet with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Datchet can be avoided where you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • Many freeholders or Management Companies in Datchet charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Datchet.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Datchet leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not contact the landlord without contacting your lawyer in advance.
  • Some Datchet leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a new share certificate can be a lengthy formality and slows down many a Datchet home move. Where a new share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

    • Are there frequently found deficiencies that you encounter in leases for Datchet properties?

    Leasehold conveyancing in Datchet is not unique. All leases is drafted differently and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Leasehold Conveyancing in Datchet - Examples of Questions you should consider Prior to buying

      How much is the ground rent and service charge? The answer will be useful as a) areas could cause problems for the building as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the running of the building you will want to know about it If a Datchet lease has less than eighty years it will impact the salability of the flat. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you will be required to have been the owner of the property for a couple of years in order to be entitled to exercise a lease extension.

    Other Topics

    Lease Extensions in Datchet