Guaranteed fixed fees for Leasehold Conveyancing in Shinfield

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Shinfield, 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 Shinfield leasehold conveyancing

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

A small minority of properties in Shinfield do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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 consent.

I only have Fifty years left on my lease in Shinfield. I now wish to get lease extension but my freeholder is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order 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 prove that you have done all that could be expected to find the landlord. In some cases a specialist should be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Shinfield.

I am looking at a two apartments in Shinfield both have in the region of fifty years left on the leases. Do I need to be concerned?

There are plenty of short leases in Shinfield. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I am employed by a long established estate agency in Shinfield where we see a number of flat sales derailed as a result of short leases. I have been given contradictory information from local Shinfield conveyancing solicitors. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any advice for leasehold conveyancing in Shinfield with the aim of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Shinfield can be reduced if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
  • Many freeholders or managing agents in Shinfield charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Shinfield.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Shinfield leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such alterations. Should you fail to have the paperwork to hand you should not communicate with the landlord without checking with your conveyancer first.
  • A minority of Shinfield leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any 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 purchasers or their solicitors.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the registered owner of a 2 bed flat in Shinfield, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Shinfield with a long lease are worth £183,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2085

    With only 62 years unexpired we estimate the price of your lease extension to be between £20,900 and £24,200 as well as professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Shinfield