Having had my offer accepted I require leasehold conveyancing in Sunningdale. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Sunningdale - 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.

I have recently realised that I have 62 years unexpired on my flat in Sunningdale. I am keen to get lease extension but my freeholder is missing. What options are available to me?

On the basis that 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 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 locate the freeholder. For most situations an enquiry agent may be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Sunningdale.

I am employed by a reputable estate agency in Sunningdale where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Sunningdale conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 Sunningdale with the aim of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Sunningdale can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
• The majority freeholders or Management Companies in Sunningdale levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Sunningdale.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Sunningdale state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you dont have the consents to hand do not communicate with the landlord without checking with your conveyancer before hand.
• Some Sunningdale 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 financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 solicitors.
• If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Organising a re-issued share certificate can be a lengthy process and frustrates many a Sunningdale home move. If a new share is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

In relation to leasehold conveyancing in Sunningdale what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Sunningdale. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• 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 could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

Sunningdale Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

It would be wise to find out as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the cleanliness of the common parts. Enquire of prospective neighbours whether they are happy with them. In conclusion, be sure you understand the dates that the maintenance fees are due to the appropriate party and specifically what you get for your money. Plenty Sunningdale leasehold apartments will be liable to pay a service bill for the upkeep of the building levied on behalf of the management company. Where you buy the property you will have to pay this contribution, usually periodically throughout the year. This may vary from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, normally this is not a large amount, say about £50-£100 but you need to check it because on occasion it can be surprisingly expensive.