Fixed-fee leasehold conveyancing in Farnham:

Get a Quote

Need to find a solicitor for leasehold conveyancing in Farnham on your lender’s panel? Make use of our search tool to find quality local Farnham conveyancing lawyers or nationwide solicitors on your lender’s panel .

Common questions relating to Farnham leasehold conveyancing

Due to complete next month on a basement flat in Farnham. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Farnham should include some of the following:

  • You should receive a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • 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 For details of the information to be contained in your report on your leasehold property in Farnham please ask your solicitor in ahead of your conveyancing in Farnham

    • I have just started marketing my 2 bed flat in Farnham.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    I am employed by a busy estate agent office in Farnham where we have experienced a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Farnham conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 at the same time as completion of the disposal of the property.

    An alternative approach is 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 buyer.

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

    • Much of the delay in leasehold conveyancing in Farnham can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • The majority freeholders or managing agents in Farnham charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Farnham.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming process and delays many a Farnham home move. If a new share certificate is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there common defects that you encounter in leases for Farnham properties?

    Leasehold conveyancing in Farnham is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements 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

    You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Virgin Money, and Platform Home Loans Ltd 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 does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

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

      How long is the Lease? This information is important as a) areas may result in problems for the building as the communal areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the managing agents you will need to have full disclosure Who takes charge for maintaining and repairing the block?

    Other Topics

    Lease Extensions in Farnham