Leasehold Conveyancing in Taplow - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Taplow, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Taplow leasehold conveyancing: Q and A’s

Due to exchange soon on a basement flat in Taplow. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Taplow should include some of the following:

  • You should receive a copy of the lease
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Does the lease prevent you from renting out the property, or working from home
  • 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
  • You should have a good understanding of the insurance provisions
  • Responsibility for repairing the window frames
  • What you can do if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Taplow please enquire of your lawyer in advance of your conveyancing in Taplow

    • Estate agents have just been given the go-ahead to market my 2 bed apartment in Taplow.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    I own a leasehold house in Taplow. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Taplow who acted for me is not around.Do I pay?

    The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Taplow conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am looking at a couple of flats in Taplow both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Taplow. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Taplow from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Taplow can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers conveyancers.
    • Many freeholders or managing agents in Taplow charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Taplow.
  • A minority of Taplow leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet 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 lawyers.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Obtaining a new share certificate is often a time consuming formality and slows down many a Taplow conveyancing deal. If a duplicate share is needed, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I purchased a basement flat in Taplow, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Taplow with a long lease are worth £250,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2087

    With just 62 years remaining on your lease the likely cost is going to be between £18,100 and £20,800 plus professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Taplow