Fixed-fee leasehold conveyancing in Wycombe Marsh:

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Sample questions relating to Wycombe Marsh leasehold conveyancing

I am on look out for some leasehold conveyancing in Wycombe Marsh. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Wycombe Marsh - 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.

Estate agents have just been given the go-ahead to market my basement flat in Wycombe Marsh.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.

Back In 2006, I bought a leasehold house in Wycombe Marsh. Conveyancing and Barnsley Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Wycombe Marsh who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Wycombe Marsh conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a busy estate agency in Wycombe Marsh where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Wycombe Marsh conveyancing solicitors. Could you clarify whether the vendor of a flat can commence the lease extension process 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 at the same time as completion of the disposal of the property.

An alternative approach is 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.

Can you provide any top tips for leasehold conveyancing in Wycombe Marsh from the perspective of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Wycombe Marsh can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Wycombe Marsh leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such changes. Where you dont have the consents to hand you should not contact the landlord without checking with your conveyancer in the first instance.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a new share certificate can be a time consuming process and delays many a Wycombe Marsh conveyancing transaction. If a reissued share is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Wycombe Marsh Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      It would be wise to find out as much as you can regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the upkeep of the common parts. Ask prospective neighbours whether they are happy with their management. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and specifically how they are spending that money. Who takes charge for maintaining and repairing the building? The majority of Wycombe Marsh leasehold properties will incur a service bill for maintenance of the block set by the landlord. Should you acquire the apartment you will have to pay this charge, normally quarterly accross the year. This could be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent to be met yearly, this is usually not a large sum, say approximately £50-£100 but you should to check it because on occasion it could be prohibitively expensive.

    Other Topics

    Lease Extensions in Wycombe Marsh