Fixed-fee leasehold conveyancing in Virginia Water:

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Top Five Questions relating to Virginia Water leasehold conveyancing

I am on look out for some leasehold conveyancing in Virginia Water. Before diving in I require certainty as to the number of years remaining on the lease.

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

Due to exchange soon on a leasehold property in Virginia Water. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Virginia Water should include some of the following:

  • The total extent of the property. This will be the apartment itself but may incorporate a loft or cellar if applicable.
  • Does the lease prohibit wood flooring?
  • 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
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Virginia Water please enquire of your lawyer in advance of your conveyancing in Virginia Water

    • Back In 2009, I bought a leasehold flat in Virginia Water. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Virginia Water who previously acted has long since retired.Do I pay?

    First make enquiries of the Land Registry 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 Virginia Water conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Can you offer any advice when it comes to appointing a Virginia Water conveyancing practice to deal with our lease extension?

    If you are instructing a property lawyer for your lease extension (regardless if they are a Virginia Water conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Virginia Water conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How many lease extensions have they completed in Virginia Water in the last year?
  • What are the charges for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Virginia Water from the point of view of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Virginia Water can be bypassed if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
    • The majority landlords or managing agents in Virginia Water charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for 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 usual reason for frustration in leasehold conveyancing in Virginia Water.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Virginia Water leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such changes. If you fail to have the paperwork to hand do not contact the landlord without contacting your conveyancer in advance.
  • Some Virginia Water leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • 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 proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I bought a ground floor flat in Virginia Water, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Virginia Water with an extended lease are worth £269,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2102

    With just 77 years unexpired we estimate the price of your lease extension to span between £10,500 and £12,000 plus professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Virginia Water