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Recently asked questions relating to Frimley leasehold conveyancing

Due to complete next month on a garden flat in Frimley. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The total extent of the property. This will be the apartment itself but might include a roof space or cellar if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • 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 Frimley please enquire of your lawyer in advance of your conveyancing in Frimley

    • My wife and I purchased a leasehold flat in Frimley. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Frimley who previously acted has now retired.What should I do?

    First contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to instruct a Frimley conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am a negotiator for a long established estate agent office in Frimley where we see a few flat sales put at risk due to short leases. I have been given inconsistent advice from local Frimley conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension process for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 simultaneously with completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

    What advice can you give us when it comes to choosing a Frimley conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Frimley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Frimley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

    • How experienced is the practice with lease extension legislation?
  • How many lease extensions has the firm completed in Frimley in the last year?

    • Do you have any advice for leasehold conveyancing in Frimley with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Frimley can be bypassed where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Some Frimley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 lawyers.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may need to swallow your pride 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Arranging a replacement share certificate can be a lengthy formality and frustrates many a Frimley home move. Where a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser'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 under 75 years. In the circumstances it is essential at an early stage that you identify 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 1 bedroom flat in Frimley, conveyancing having been completed in 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Frimley with over 90 years remaining are worth £175,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2096

    You have 71 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Frimley