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Windsor leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Windsor. 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 Windsor - 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.

Estate agents have just been given the go-ahead to market my ground floor apartment in Windsor.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a two maisonettes in Windsor which have about fifty years left on the leases. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I work for a busy estate agency in Windsor where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Windsor conveyancing solicitors. Could you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. This means that the buyer 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 has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Do you have any advice for leasehold conveyancing in Windsor from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Windsor can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Windsor state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such alterations. Should you fail to have the consents in place do not communicate with the landlord without checking with your solicitor in advance.
  • A minority of Windsor leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a lengthy process and frustrates many a Windsor conveyancing transaction. Where a duplicate share is necessary, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

    • I acquired a split level flat in Windsor, conveyancing was carried out 4 years ago. How much will my lease extension cost? Corresponding flats in Windsor with an extended lease are worth £207,000. The ground rent is £45 per annum. The lease ceases on 21st October 2075

    With 50 years remaining on your lease we estimate the premium for your lease extension to span between £39,000 and £45,000 as well as costs.

    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 due diligence. Do not use this information 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. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Windsor