Slough leasehold conveyancing: Q and A’s
There are only Seventy years remaining on my flat in Slough. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. On the whole an enquiry agent should be useful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Slough.
Planning to exchange soon on a ground floor flat in Slough. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Slough should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
Can you provide any top tips for leasehold conveyancing in Slough with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Slough can be avoided if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
- If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Slough state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such changes. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
Completion in due on our sale of a £325000 garden flat in Slough next Tuesday . The landlords agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Slough?
For most leasehold sales in Slough conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Slough
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What are the common deficiencies that you come across in leases for Slough properties?
Leasehold conveyancing in Slough is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
I inherited a 1st floor flat in Slough, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable properties in Slough with a long lease are worth £175,000. The ground rent is £55 levied per year. The lease expires on 21st October 2088
You have 67 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.