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When it comes to leasehold conveyancing in Wokingham, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or NatWest be sure to choose a lawyer on their approved list. Find a Wokingham conveyancing lawyer with our search tool

Sample questions relating to Wokingham leasehold conveyancing

I am in need of some leasehold conveyancing in Wokingham. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Wokingham - 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.

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

The lease governs the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Wokingham do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Wokingham. I now want to extend my lease but my landlord is missing. 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 an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations a specialist would be useful to try and locate and prepare an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Wokingham.

Can you provide any advice for leasehold conveyancing in Wokingham with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Wokingham can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
  • Many freeholders or managing agents in Wokingham charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Wokingham.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Wokingham leases often stipulate that internal structural alterations or installing wooden flooring require a licence from the Landlord approving such changes. Should you fail to have the approvals to hand do not contact the landlord without contacting your lawyer first.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current 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 better to present the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Are there frequently found defects that you encounter in leases for Wokingham properties?

    There is nothing unique about leasehold conveyancing in Wokingham. Most leases are individual and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

    I own a basement flat in Wokingham, conveyancing formalities finalised 9 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 properties in Wokingham with a long lease are worth £175,000. The ground rent is £55 yearly. The lease expires on 21st October 2082

    You have 57 years remaining on your lease we estimate the price of your lease extension to be between £28,500 and £33,000 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Wokingham