I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Bracknell. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Bracknell are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Bracknell so you should seriously consider shopping around for a Bracknell conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am looking at a two flats in Bracknell which have in the region of 50 years unexpired on the leases. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold house in Bracknell. Am I liable to pay service charges for periods before completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

What advice can you give us when it comes to choosing a Bracknell conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Bracknell conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Bracknell conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?
• If they are not ALEP accredited then what is the reason?

Can you provide any top tips for leasehold conveyancing in Bracknell with the purpose of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Bracknell can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
• Many landlords or Management Companies in Bracknell charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Bracknell.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Bracknell leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such alterations. Should you dont have the consents in place do not contact the landlord without checking with your solicitor in advance.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.
• If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming process and delays many a Bracknell conveyancing transaction. Where a new share is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

Bracknell Conveyancing for Leasehold Flats - A selection of Queries before buying

Make sure you find out if there is anything that is prohibited in the lease. By way of example it is reasonably common in Bracknell leases that pets are not permitted in certain buildings in Bracknell. If you love the apartmentin Bracknell however your cat can’t live with you then you will be faced difficult compromise. How many of the leaseholders are in arrears for their service charge payments? The prefered form of lease structure is a share of the freehold. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is usually retained if it is larger than a house conversion, the managing agent is directed by the tenants.