Fixed-fee leasehold conveyancing in Pangbourne:

Get a Quote

When it comes to leasehold conveyancing in Pangbourne, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Clydesdale , RBS or NatWest make sure you find a lawyer on their approved list. Find a Pangbourne conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Pangbourne

I am on look out for some leasehold conveyancing in Pangbourne. 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 almost all are in Pangbourne - 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Pangbourne. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Pangbourne ?

Most houses in Pangbourne 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 Pangbourne so you should seriously consider looking for a Pangbourne conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a two apartments in Pangbourne which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Pangbourne. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold house in Pangbourne. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Pangbourne with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Pangbourne can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers solicitors.
  • The majority freeholders or managing agents in Pangbourne levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Pangbourne.
  • Some Pangbourne leases require Licence to Assign from the landlord. 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a duplicate share certificate can be a time consuming process and slows down many a Pangbourne conveyancing deal. If a new share is necessary, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore important at an early stage that you identify 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.

    • I invested in buying a basement flat in Pangbourne, conveyancing formalities finalised 2000. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Pangbourne with over 90 years remaining are worth £184,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2100

    With 75 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Pangbourne