Fixed-fee leasehold conveyancing in Tilehurst:

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

Questions and Answers: Tilehurst leasehold conveyancing

I am in need of some leasehold conveyancing in Tilehurst. Before diving in 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 basic details 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 am hoping to exchange soon on a basement flat in Tilehurst. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Whether the lease restricts 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
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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 the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Tilehurst please enquire of your solicitor in ahead of your conveyancing in Tilehurst

  • I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Tilehurst. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

    Most houses in Tilehurst are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Tilehurst in which case you should be shopping around for a Tilehurst conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

    I am employed by a long established estate agency in Tilehurst where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Tilehurst conveyancing firms. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

    As long as 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 proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible 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 purchaser.

    Do you have any top tips for leasehold conveyancing in Tilehurst from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Tilehurst can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • Many freeholders or managing agents in Tilehurst 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 sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Tilehurst.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming process and delays many a Tilehurst conveyancing deal. If a duplicate share is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • I bought a leasehold flat in Tilehurst, conveyancing formalities finalised in 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Tilehurst with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease comes to an end on 21st October 2073

    With 52 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 as well as costs.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Tilehurst