Fixed-fee leasehold conveyancing in Slough:

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

Common questions relating to Slough leasehold conveyancing

I only have 62 years remaining on my lease in Slough. I need to get lease extension but my landlord is missing. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. For most situations an enquiry agent may be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Slough.

Planning to complete next month on a studio apartment in Slough. Conveyancing lawyers assured me that they report fully on Monday. 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 ends, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • 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
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Slough please ask your conveyancer in ahead of your conveyancing in Slough

    • Back In 2002, I bought a leasehold house in Slough. Conveyancing and Skipton Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Slough who previously acted has now retired.Do I pay?

    First contact HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Slough 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 legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of apartments in Slough both have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Slough is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and lenders, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Slough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Do you have any top tips for leasehold conveyancing in Slough with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Slough can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
    • The majority freeholders or managing agents in Slough charge for supplying management packs for a leasehold property. 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 usual cause of delay in leasehold conveyancing in Slough.
  • Some Slough leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I purchased a 2 bed flat in Slough, conveyancing formalities finalised 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Slough with over 90 years remaining are worth £251,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2102

    You have 76 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Slough