Frequently asked questions relating to Bracknell leasehold conveyancing
I am on look out for some leasehold conveyancing in Bracknell. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Bracknell - 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.
Helen (my wife) and I may need to sub-let our Bracknell basement flat temporarily due to a career opportunity. We instructed a Bracknell conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Bracknell do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Bracknell. I now want to extend my lease but my freeholder is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations an enquiry agent should be helpful to try and locate and to produce an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Bracknell.
I have just appointed agents to market my basement flat in Bracknell.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently 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 Bracknell. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Bracknell are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Bracknell so you should seriously consider looking for a Bracknell conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.
I own a ground floor flat in Bracknell, conveyancing having been completed 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Bracknell with a long lease are worth £235,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2100
With just 74 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
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