Leasehold Conveyancing in Wargrave - Get a Quote from the leasehold experts approved by your lender

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Wargrave leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Wargrave. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Wargrave - 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 am hoping to complete next month on a basement flat in Wargrave. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Defining your legal entitlements in respect of the communal areas in the block.By way of example, does the lease include a right of way over a path or staircase?
  • Whether the lease restricts you from renting out the flat, or having a home office for business
  • You need to be told what counts as a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • 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 For a comprehensive list of information to be contained in your report on your leasehold property in Wargrave please ask your solicitor in ahead of your conveyancing in Wargrave

  • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Wargrave. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

    Most houses in Wargrave 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 Wargrave in which case you should be shopping around for a Wargrave conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

    My wife and I purchased a leasehold house in Wargrave. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Wargrave who acted for me is not around.Do I pay?

    First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Wargrave conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Are there common deficiencies that you witness in leases for Wargrave properties?

    There is nothing unique about leasehold conveyancing in Wargrave. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements 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 may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Mortgage Works, and Bank of Ireland all have express requirements 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 purchaser to pull out.

    I bought a 2 bed flat in Wargrave, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Wargrave with a long lease are worth £246,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2099

    You have 75 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure 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. You should not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Wargrave