I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Accrington. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Accrington ?

Most houses in Accrington are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Accrington in which case you should be looking for a Accrington conveyancing practitioner and be sure that they have experience in advising 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 with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I am a negotiator for a busy estate agent office in Accrington where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Accrington conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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 purchaser.

Can you offer any advice when it comes to choosing a Accrington conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Accrington conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Accrington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How experienced is the firm with lease extension legislation?
• What are the legal fees for lease extension conveyancing?

Do you have any top tips for leasehold conveyancing in Accrington from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Accrington can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
• The majority landlords or managing agents in Accrington levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Accrington.
• If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Accrington leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you fail to have the approvals to hand you should not communicate with the landlord without checking with your solicitor in the first instance.
• Some Accrington leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
• You believe that you know the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is below 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 premises on the market for sale.

Are there frequently found defects that you come across in leases for Accrington properties?

There is nothing unique about leasehold conveyancing in Accrington. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• 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

You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Bank of Scotland, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Accrington - Sample of Questions you should consider Prior to buying

Is there a share of the freehold?