Quality lawyers for Leasehold Conveyancing in Wargrave

When it comes to leasehold conveyancing in Wargrave, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Nationwide be sure to find a lawyer on their panel. Find a Wargrave conveyancing lawyer with our search tool

Questions and Answers: Wargrave leasehold conveyancing

I wish to let out my leasehold flat in Wargrave. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease dictates the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Wargrave do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

My wife and I purchased a leasehold flat in Wargrave. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Wargrave who previously acted has now retired.What should I do?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Wargrave conveyancing lawyer 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 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold flat in Wargrave. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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 Wargrave where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Wargrave conveyancing solicitors. Please can you clarify whether the vendor of a flat can initiate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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.

What are your top tips when it comes to choosing a Wargrave conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Wargrave conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Wargrave conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • What volume of lease extensions has the firm conducted in Wargrave in the last year?
  • What are the charges for lease extension work?

  • I acquired a leasehold flat in Wargrave, conveyancing formalities finalised 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Wargrave with an extended lease are worth £181,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2074

    With only 52 years unexpired the likely cost is going to range between £31,400 and £36,200 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Wargrave