I am on look out for some leasehold conveyancing in Hungerford. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Hungerford - then the leasehold title will always include the short particulars 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.

I am intending to rent out my leasehold flat in Hungerford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease governs relations between the landlord and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Hungerford do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I’m about to sell my 2 bed apartment in Hungerford.Conveyancing lawyers have not yet been instructed but I have just received a half-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 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've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Hungerford. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Hungerford ?

The majority of houses in Hungerford 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 clear that you are buying in Hungerford so you should seriously consider looking for a Hungerford 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 comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

In relation to leasehold conveyancing in Hungerford what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Hungerford. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Leeds Building Society, and TSB all have very detailed requirements 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 provide security, forcing the buyer to pull out.

I own a ground floor flat in Hungerford, conveyancing having been completed 10 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Hungerford with an extended lease are worth £230,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2085

You have 60 years unexpired we estimate the premium for your lease extension to be between £23,800 and £27,400 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Hungerford