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Recently asked questions relating to Harwell leasehold conveyancing

I have just appointed agents to market my ground floor apartment in Harwell.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Harwell. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Harwell are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Harwell so you should seriously consider shopping around for a Harwell conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Harwell both have approximately forty five years left on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

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

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

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Harwell who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Harwell with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Harwell can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Harwell state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the paperwork to hand do not contact the landlord without checking with your conveyancer in the first instance.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Arranging a replacement share certificate can be a lengthy formality and slows down many a Harwell conveyancing deal. Where a new share is necessary, do contact the company director and secretary or managing agents (where applicable) 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 advisable double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I own a 2 bed flat in Harwell, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Harwell with an extended lease are worth £169,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ends on 21st October 2082

    With 56 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Harwell