Fixed-fee leasehold conveyancing in Marlow:

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Frequently asked questions relating to Marlow leasehold conveyancing

I am on look out for some leasehold conveyancing in Marlow. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Marlow - 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.

I want to let out my leasehold apartment in Marlow. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Marlow do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I only have Sixty One years left on my flat in Marlow. I need to extend my lease but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. In some cases an enquiry agent would be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Marlow.

Do you have any top tips for leasehold conveyancing in Marlow with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Marlow can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • The majority freeholders or managing agents in Marlow charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Marlow.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Marlow state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you fail to have the paperwork in place do not contact the landlord without contacting your solicitor first.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Organising a new share certificate is often a lengthy process and delays many a Marlow conveyancing deal. Where a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Marlow lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Marlow. All leases is drafted differently and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

    Marlow Leasehold Conveyancing - Examples of Questions you should ask before buying

      What is the the remaining lease term? Does the lease have onerous restrictions? Is the freehold reversion owned jointly by the tenants?

    Other Topics

    Lease Extensions in Marlow