Guaranteed fixed fees for Leasehold Conveyancing in Tilehurst

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Frequently asked questions relating to Tilehurst leasehold conveyancing

I am on look out for some leasehold conveyancing in Tilehurst. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Tilehurst - 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 only have Seventy years left on my lease in Tilehurst. I now wish to extend my lease but my landlord is can not be found. What should I do?

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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. For most situations an enquiry agent may be helpful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Tilehurst.

I have just appointed agents to market my basement apartment in Tilehurst.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Tilehurst. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Tilehurst ?

The majority of houses in Tilehurst are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Tilehurst in which case you should be shopping around for a Tilehurst conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

When it comes to leasehold conveyancing in Tilehurst what are the most frequent lease defects?

Leasehold conveyancing in Tilehurst is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain parts of the property
  • A duty to insure the building
  • A provision for the recovery of money spent for the benefit of another party.
  • Service charge per centages that don't add up correctly leaving a shortfall

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I purchased a basement flat in Tilehurst, conveyancing having been completed 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Tilehurst with an extended lease are worth £212,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2072

With only 50 years remaining on your lease we estimate the premium for your lease extension to range between £39,900 and £46,200 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

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Lease Extensions in Tilehurst