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

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Farnham Common, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Farnham Common leasehold conveyancing

I am on look out for some leasehold conveyancing in Farnham Common. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Farnham Common - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Planning to sign contracts shortly on a ground floor flat in Farnham Common. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your legal entitlements in relation to the communal areas in the building.For example, does the lease contain a right of way over an accessway or staircase?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • 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. For a comprehensive list of information to be included in your report on your leasehold property in Farnham Common please enquire of your lawyer in ahead of your conveyancing in Farnham Common

    • I am tempted by the attractive purchase price for a two apartments in Farnham Common which have in the region of 50 years left on the leases. Do I need to be concerned?

    A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

    I work for a long established estate agent office in Farnham Common where we have experienced a few flat sales derailed due to short leases. I have been given contradictory information from local Farnham Common conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?

    As long as 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. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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 purchaser.

    All being well we will complete our sale of a £425000 apartment in Farnham Common in seven days. The management company has quoted £384 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Farnham Common?

    Farnham Common conveyancing on leasehold apartments more often than not requires the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Farnham Common Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

      It is important to be aware if window replacement or some other significant cost is anticipated to be shared by the tenants and could well materially impact the level of the maintenance fees or require a one off payment. Who are the managing agents? Are there any major works in the planning that will increase the maintenance costs?

    Other Topics

    Lease Extensions in Farnham Common