Experts for Leasehold Conveyancing in Wantage

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When it comes to leasehold conveyancing in Wantage, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Wantage leasehold conveyancing

Due to sign contracts shortly on a garden flat in Wantage. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Wantage please enquire of your solicitor in advance of your conveyancing in Wantage

    • My wife and I purchased a leasehold flat in Wantage. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Wantage who acted for me is not around.Do I pay?

    The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Wantage 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 freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Last month I purchased a leasehold property in Wantage. Do I have any liability for service charges for periods before completion of my purchase?

    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. It is an essential part 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 employed by a reputable estate agent office in Wantage where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Wantage conveyancing firms. Could you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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.

    Can you provide any advice for leasehold conveyancing in Wantage with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Wantage can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
    • The majority landlords or managing agents in Wantage levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Wantage.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Wantage leases often stipulate that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such changes. If you dont have the consents to hand you should not communicate with the landlord without contacting your solicitor before hand.
  • If you have had 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 warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Arranging a new share certificate can be a lengthy process and delays many a Wantage home move. If a new share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • I purchased a ground floor flat in Wantage, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Wantage with an extended lease are worth £238,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2094

    With only 69 years left to run we estimate the price of your lease extension to be between £12,400 and £14,200 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Wantage