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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Newbury, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Newbury leasehold conveyancing

I am on look out for some leasehold conveyancing in Newbury. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Newbury - 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.

I would like to let out my leasehold apartment in Newbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Some leases for properties in Newbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am hoping to exchange soon on a leasehold property in Newbury. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Newbury should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Newbury please ask your lawyer in advance of your conveyancing in Newbury

    • Back In 2001, I bought a leasehold flat in Newbury. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Newbury who previously acted has long since retired.What should I do?

    The first thing you should do is 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 incur the fees of a Newbury conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of maisonettes in Newbury which have about forty five years unexpired on the lease term. Will this present a problem?

    A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

    I invested in buying a leasehold flat in Newbury, conveyancing was carried out 2005. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Newbury with a long lease are worth £223,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 2089

    With 64 years left to run we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Newbury