Fixed-fee leasehold conveyancing in Accrington:

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Accrington, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Accrington leasehold conveyancing

I am on look out for some leasehold conveyancing in Accrington. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Accrington - 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.

Due to sign contracts shortly on a basement flat in Accrington. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Accrington should include some of the following:

  • You should receive a copy of the lease
  • You must be told what counts as a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Accrington please ask your solicitor in advance of your conveyancing in Accrington

  • I am employed by a busy estate agent office in Accrington where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Accrington conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

    An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

    What are your top tips when it comes to appointing a Accrington conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Accrington conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Accrington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • If the firm is not ALEP accredited then why not?
  • What are the legal fees for lease extension work?

  • Are there common problems that you encounter in leases for Accrington properties?

    Leasehold conveyancing in Accrington is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that 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.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, 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 provide security, forcing the buyer to pull out.

    I own a 2 bed flat in Accrington, conveyancing formalities finalised 2001. How much will my lease extension cost? Corresponding flats in Accrington with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2086

    You have 61 years unexpired we estimate the premium for your lease extension to be between £17,100 and £19,800 plus professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Accrington