Recently asked questions relating to High Wycombe leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in High Wycombe. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in High Wycombe - then the leasehold title will always include the basic details 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.
Planning to exchange soon on a ground floor flat in High Wycombe. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in High Wycombe should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in High Wycombe. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in High Wycombe ?
The majority of houses in High Wycombe 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 clear that you are purchasing in High Wycombe so you should seriously consider shopping around for a High Wycombe conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out 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 report to you on the legal implications.
My wife and I purchased a leasehold house in High Wycombe. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in High Wycombe who previously acted has long since retired.What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a High Wycombe conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any advice for leasehold conveyancing in High Wycombe from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in High Wycombe can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? High Wycombe leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. If you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand.
Leasehold Conveyancing in High Wycombe - A selection of Queries before Purchasing
Is the freehold reversion owned collectively by the leaseholders?
What restrictions exist in the High Wycombe Lease?
Where a High Wycombe lease has less than 80 years it will have adverse implications on the salability of the apartment. It is worth checking with your mortgage company that they are content with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you will need to own the residence for two years before you are eligible to extend the lease.