Common questions relating to Datchet leasehold conveyancing
I only have Seventy years remaining on my lease in Datchet. I am keen to extend my lease but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission 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 prove that you have done all that could be expected to find the freeholder. In some cases an enquiry agent would be helpful to carry out a search and prepare a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court covering Datchet.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Datchet. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Datchet ?
The majority of houses in Datchet are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Datchet so you should seriously consider looking for a Datchet conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.
My wife and I purchased a leasehold flat in Datchet. Conveyancing and Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Datchet who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Datchet conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any advice for leasehold conveyancing in Datchet with the intention of saving time on 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 request that they start to put together the leasehold information needed by the buyers solicitors.
- The majority freeholders or Management Companies in Datchet charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Datchet.
- A minority of Datchet 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 obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
- If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved.
- If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a duplicate share certificate can be a lengthy formality and slows down many a Datchet home move. Where a duplicate share is required, do contact the company officers or managing agents (if applicable) for this as soon as possible.
What makes a Datchet lease problematic?
Leasehold conveyancing in Datchet is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
- 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.
- 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 as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, 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 is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I inherited a 1 bedroom flat in Datchet, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Datchet with over 90 years remaining are worth £261,000. The ground rent is £65 yearly. The lease finishes on 21st October 2086
With 60 years left to run the likely cost is going to span between £25,700 and £29,600 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.