Experts for Leasehold Conveyancing in Wraysbury

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Common questions relating to Wraysbury leasehold conveyancing

I want to rent out my leasehold flat in Wraysbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your last Wraysbury conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without prior consent. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Back In 2006, I bought a leasehold house in Wraysbury. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Wraysbury who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Wraysbury conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two flats in Wraysbury both have about 50 years remaining on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Wraysbury with the purpose of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Wraysbury can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Wraysbury leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such alterations. Should you fail to have the paperwork in place you should not contact the landlord without contacting your conveyancer first.
  • A minority of Wraysbury leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and delays many a Wraysbury conveyancing transaction. Where a new share is required, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is 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 property on the market for sale.

    • When it comes to leasehold conveyancing in Wraysbury what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Wraysbury. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Royal Bank of Scotland, and Britannia 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 is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Leasehold Conveyancing in Wraysbury - A selection of Queries Prior to buying

      How much is the ground rent and service charge? Its a good idea to find out as much as possible regarding the managing agents as they will either make life much simpler or much more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the tidiness of the common parts. Ask other people whether they are happy with them. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. Are any of leasehold owners in arrears of their service charge liability?

    Other Topics

    Lease Extensions in Wraysbury