I am on look out for some leasehold conveyancing in Finchampstead. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Finchampstead - 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.

Jane (my partner) and I may need to rent out our Finchampstead ground floor flat for a while due to a new job. We used a Finchampstead conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

A lease dictates the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Finchampstead do not prevent subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is a basic 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 72 years remaining on my lease in Finchampstead. I now want to extend my lease but my freeholder is absent. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to find the lessor. On the whole an enquiry agent should be useful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Finchampstead.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Finchampstead. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Finchampstead ?

Most houses in Finchampstead are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Finchampstead in which case you should be looking for a Finchampstead conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

What advice can you give us when it comes to choosing a Finchampstead conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Finchampstead conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Finchampstead conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• What volume of lease extensions has the firm conducted in Finchampstead in the last twenty four months?

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

Where a Finchampstead lease has no more than 80 years it will affect the salability of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this will be. For most Finchampsteadlease extensions you would need to own the premises for 24 months in order to be entitled to extend the lease. How many of the leaseholders are in arrears for their maintenance charge payments? How is the lease structured?

Other Topics

Lease Extensions in Finchampstead