I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Worplesdon. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Worplesdon ?

Most houses in Worplesdon are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Worplesdon so you should seriously consider shopping around for a Worplesdon conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

Last month I purchased a leasehold flat in Worplesdon. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am a negotiator for a long established estate agent office in Worplesdon where we see a number of leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Worplesdon conveyancing solicitors. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

What are your top tips when it comes to finding a Worplesdon conveyancing practice to deal with our lease extension?

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

• If the firm is not ALEP accredited then what is the reason?

Can you provide any advice for leasehold conveyancing in Worplesdon with the intention of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Worplesdon can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Worplesdon leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. Where you fail to have the paperwork to hand do not contact the landlord without contacting your lawyer before hand.

Worplesdon Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

For most Worplesdon leaseholds the cost for major works tend not to be included within service charges, although some managing agents in Worplesdon ask leaseholders to contribute towards a sinking fund created for the specific purpose of building a fund for major works. The best form of lease structure is a share of the freehold. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is usually employed where the building is bigger than a house conversion, the managing agent retained by the leaseholders. Who manages the building?

Other Topics

Lease Extensions in Worplesdon