Experts for Leasehold Conveyancing in Maidenhead

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Maidenhead, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Maidenhead leasehold conveyancing

I am on look out for some leasehold conveyancing in Maidenhead. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Maidenhead - 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.

Jane (my partner) and I may need to sub-let our Maidenhead basement flat for a while due to taking a sabbatical. We instructed a Maidenhead conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Your lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Maidenhead do not contain strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Back In 2008, I bought a leasehold flat in Maidenhead. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Maidenhead who acted for me is not around.What should I do?

First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Maidenhead conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of maisonettes in Maidenhead both have about forty five years remaining on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

Do you have any top tips for leasehold conveyancing in Maidenhead from the perspective of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Maidenhead can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • Many landlords or managing agents in Maidenhead charge for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Maidenhead.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Maidenhead leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such works. If you dont have the approvals in place you should not communicate with the landlord without checking with your solicitor in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and slows down many a Maidenhead home move. Where a new share is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • Leasehold Conveyancing in Maidenhead - Examples of Questions you should consider Prior to buying

      The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this situation the lessees benefit from being in charge if their destiny and although a managing agent is usually employed if the building is bigger than a house conversion, the managing agent is directed by the tenants. On the whole the outlay for major works tend not to be wrapped into the service charges, albeit that there some managing agents in Maidenhead obliged tenants to contribute towards a reserve fund and this is used to offset against major works. Please note if it is no more than eighty years it will have adverse implications on the salability of the property. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will probably need a lease extension at some point and it is worth discovering what this would cost. Remember, in most cases you will be be obliged to have been the owner of the property for 24 months in order to be eligible to carry out a lease extension.

    Other Topics

    Lease Extensions in Maidenhead