Fixed-fee leasehold conveyancing in Lower Earley:

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Frequently asked questions relating to Lower Earley leasehold conveyancing

I am in need of some leasehold conveyancing in Lower Earley. Before I get started I want to be sure as to the unexpired term of the lease.

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

Due to sign contracts shortly on a garden flat in Lower Earley. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • The total extent of the demise. This will be the apartment itself but might include a roof space or cellar if applicable.
  • Defining your legal entitlements in respect of the communal areas in the block.For example, does the lease provide for a right of way over a path or staircase?
  • Does the lease prevent you from renting out the property, or working from home
  • You should be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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 For details of the information to be contained in your report on your leasehold property in Lower Earley please ask your solicitor in advance of your conveyancing in Lower Earley

    • I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Lower Earley. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

    The majority of houses in Lower Earley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Lower Earley in which case you should be shopping around for a Lower Earley conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

    Do you have any top tips for leasehold conveyancing in Lower Earley from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Lower Earley can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • 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 Lower Earley state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. If you fail to have the consents in place do not contact the landlord without checking with your lawyer in the first instance.
  • Some Lower Earley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a re-issued share certificate is often a lengthy process and delays many a Lower Earley conveyancing transaction. If a new share is necessary, you should approach the company director and secretary or managing agents (if 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 verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. It is therefore essential 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.

    • If all goes to plan we aim to complete the disposal of our £500000 garden flat in Lower Earley in just under a week. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Lower Earley?

    Lower Earley conveyancing on leasehold flats often involves the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have no option but to pay whatever is demanded should you wish to complete the sale of your home.

    I own a split level flat in Lower Earley, conveyancing was carried out 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Lower Earley with over 90 years remaining are worth £239,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ends on 21st October 2097

    You have 71 years unexpired we estimate the premium for your lease extension to span between £12,400 and £14,200 plus legals.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Lower Earley