Having had my offer accepted I require leasehold conveyancing in Frimley. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Frimley - 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.

I have just started marketing my basement apartment in Frimley.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 management companies will not acknowledge the buyer unless 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 looking at a couple of maisonettes in Frimley both have in the region of 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold flat in Frimley. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I work for a busy estate agency in Frimley where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Frimley conveyancing solicitors. Can you shed some light as to whether the owner of a flat can instigate 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 can avoid having to sit tight for 2 years to extend their lease. 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 disposal of the property.

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.

Leasehold Conveyancing in Frimley - Sample of Questions you should consider Prior to buying

Generally speaking the outlay for major works tend not to be included within service charges, although a few managing agents in Frimley require leaseholders to pay into a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance. What is the length of the lease? Is there a share of the freehold?

Other Topics

Lease Extensions in Frimley