Fixed-fee leasehold conveyancing in Finchampstead:

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Common questions relating to Finchampstead leasehold conveyancing

I wish to sublet my leasehold flat in Finchampstead. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease dictates the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is prohibited, 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 Finchampstead do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Finchampstead. I now wish to extend my lease but my landlord is can not be found. What options are available to me?

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 an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. On the whole an enquiry agent may be helpful to carry out a search and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Finchampstead.

I am hoping to exchange soon on a leasehold property in Finchampstead. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the apartment itself but might incorporate a roof space or basement if applicable.
  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from letting out the flat, or having a home office for business
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Finchampstead please ask your solicitor in ahead of your conveyancing in Finchampstead

  • I have just appointed agents to market my 2 bed apartment in Finchampstead.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is pay the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.

    Can you provide any advice for leasehold conveyancing in Finchampstead with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Finchampstead can be reduced if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
    • Many freeholders or managing agents in Finchampstead levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Finchampstead.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Finchampstead leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the paperwork in place you should not contact the landlord without contacting your solicitor first.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Finchampstead Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

      How is the lease structured? Generally speaking the outlay for major works are not included within maintenance charges, although some managing agents in Finchampstead ask leaseholders to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance. Are any of leasehold owners in arrears of their service charge liability?

    Other Topics

    Lease Extensions in Finchampstead