Fixed-fee leasehold conveyancing in Walton On Thames:

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

Sample questions relating to Walton On Thames leasehold conveyancing

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Walton On Thames. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Walton On Thames ?

Most houses in Walton On Thames are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Walton On Thames so you should seriously consider looking for a Walton On Thames conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

My wife and I purchased a leasehold house in Walton On Thames. Conveyancing and Skipton 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 1998. The conveyancing solicitor in Walton On Thames who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Walton On Thames conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold property in Walton On Thames. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am a negotiator for a reputable estate agent office in Walton On Thames where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Walton On Thames conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?

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. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

Can you provide any top tips for leasehold conveyancing in Walton On Thames with the intention of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Walton On Thames can be avoided if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
  • Many landlords or Management Companies in Walton On Thames charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for 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 usual reason for frustration in leasehold conveyancing in Walton On Thames.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Walton On Thames leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you fail to have the paperwork in place do not contact the landlord without contacting your conveyancer in advance.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and slows down many a Walton On Thames conveyancing deal. If a new share is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • I am the registered owner of a garden flat in Walton On Thames. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?

    Most definitely. We are happy to put you in touch with a Walton On Thames conveyancing firm who can help.

    An example of a Lease Extension case for a Walton On Thames residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The the unexpired residue of the current lease was 82.93 years.

    Other Topics

    Lease Extensions in Walton On Thames