Fixed-fee leasehold conveyancing in Woburn:

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Top Five Questions relating to Woburn leasehold conveyancing

I would like to rent out my leasehold apartment in Woburn. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Woburn do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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 consent.

I am hoping to exchange soon on a basement flat in Woburn. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • The physical extent of the property. This will be the flat itself but could also include a loft or cellar if applicable.
  • Does the lease prevent you from subletting the flat, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Woburn please ask your lawyer in advance of your conveyancing in Woburn

    • I have just started marketing my garden apartment in Woburn.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?

    The sensible thing to do is clear the service charge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am employed by a busy estate agent office in Woburn where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Woburn conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension formalities 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

    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.

    What advice can you give us when it comes to finding a Woburn conveyancing practice to deal with our lease extension?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Woburn conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Woburn conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How many lease extensions has the firm conducted in Woburn in the last 12 months?
  • Can they put you in touch with client in Woburn who can give a testimonial?

    • I am the registered owner of a basement flat in Woburn, conveyancing formalities finalised 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Woburn with a long lease are worth £259,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2081

    With 56 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 as well as costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns 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 placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Woburn