Fixed-fee leasehold conveyancing in Winterbourne:

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Sample questions relating to Winterbourne leasehold conveyancing

I am in need of some leasehold conveyancing in Winterbourne. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and 99.9% are in Winterbourne - then the leasehold title will always include the basic details 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.

My husband and I may need to sub-let our Winterbourne 1st floor flat for a while due to a new job. We instructed a Winterbourne conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Winterbourne do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I only have 62 years remaining on my lease in Winterbourne. I now want to get lease extension but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. For most situations a specialist would be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court covering Winterbourne.

I am tempted by the attractive purchase price for a couple of apartments in Winterbourne both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Winterbourne is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of buyers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Winterbourne conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any advice for leasehold conveyancing in Winterbourne from the perspective of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Winterbourne can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Winterbourne state that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such alterations. Should you fail to have the paperwork to hand you should not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Winterbourne leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a replacement share certificate can be a time consuming formality and delays many a Winterbourne conveyancing transaction. If a new share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • I own a 1 bedroom flat in Winterbourne, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Winterbourne with an extended lease are worth £196,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2098

    With only 74 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Winterbourne