Slough leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Slough. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Slough - 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.
Expecting to complete next month on a studio apartment in Slough. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Slough should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Slough. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Slough are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Slough so you should seriously consider shopping around for a Slough conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
Back In 2000, I bought a leasehold house in Slough. Conveyancing and Chelsea Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Slough who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Slough conveyancing firm 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 rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agent office in Slough where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Slough conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?
Provided that 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 need not have to wait 2 years to extend their lease. 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 purchaser.
Slough Conveyancing for Leasehold Flats - A selection of Queries before buying
The prefered form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders have control and notwithstanding that a managing agent is frequently retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Who are the managing agents?
This question is helpful as a) areas can cause problems for the building as the communal areas may begin to deteriorate if services are not paid for b) if the tenants have an issue with the running of the building you will want to have all the details