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Common questions relating to Wokingham leasehold conveyancing

I have recently realised that I have 68 years left on my lease in Wokingham. I now wish to extend my lease but my landlord is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the landlord. In some cases a specialist would be helpful to try and locate and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court covering Wokingham.

My wife and I purchased a leasehold house in Wokingham. Conveyancing and Barnsley Building Society mortgage went though with no issue. 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 1998. The conveyancing solicitor in Wokingham who acted for me is not around.What should I do?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Wokingham conveyancing lawyer 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you offer any advice when it comes to appointing a Wokingham conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Wokingham conveyancing practice) it is essential 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 Wokingham 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 experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Wokingham who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Wokingham with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Wokingham can be avoided where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Wokingham leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you fail to have the approvals to hand you should not contact the landlord without contacting your lawyer first.
  • A minority of Wokingham leases require Licence to Assign from the landlord. If this applies to your lease, you should 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 financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a time consuming process and frustrates many a Wokingham conveyancing transaction. Where a duplicate share is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

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

    Leasehold conveyancing in Wokingham is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

    I inherited a 2 bed flat in Wokingham, conveyancing was carried out 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? Comparable flats in Wokingham with an extended lease are worth £194,000. The ground rent is £65 per annum. The lease expires on 21st October 2085

    With only 60 years left to run we estimate the price of your lease extension to range between £21,900 and £25,200 as well as professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Wokingham