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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Farnham Royal, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Farnham Royal

Helen (my wife) and I may need to let out our Farnham Royal garden flat temporarily due to a new job. We instructed a Farnham Royal conveyancing firm in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

The lease governs relations between the freeholder and you the flat owner; in particular, it will say if subletting is banned, 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. The majority of leases in Farnham Royal do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Due to complete next month on a studio apartment in Farnham Royal. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

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

  • Does the lease prevent you from renting out the flat, or working from home
  • 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
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Farnham Royal please enquire of your solicitor in ahead of your conveyancing in Farnham Royal

    • I own a leasehold house in Farnham Royal. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Farnham Royal who previously acted has long since retired.Any advice?

    The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Farnham Royal conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    What advice can you give us when it comes to appointing a Farnham Royal conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Farnham Royal conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Farnham Royal conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

    • Can they put you in touch with client in Farnham Royal who can give a testimonial?
  • What are the charges for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Farnham Royal with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Farnham Royal can be reduced where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
    • Some Farnham Royal leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should 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 able to meet 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 buyers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay 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 clearly preferable to present the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate is often a lengthy process and frustrates many a Farnham Royal home move. If a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I purchased a 1st floor flat in Farnham Royal, conveyancing having been completed 2000. How much will my lease extension cost? Comparable flats in Farnham Royal with an extended lease are worth £253,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2097

    You have 74 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Farnham Royal