Leasehold Conveyancing in Alderley Edge - Get a Quote from the leasehold experts approved by your lender

While any conveyancing practice can theoretically deal with your leasehold conveyancing in Alderley Edge, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Alderley Edge leasehold conveyancing

Having checked my lease I have discovered that there are only Sixty One years left on my flat in Alderley Edge. I now want to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you qualify, 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 mean that your lease can be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the lessor. On the whole an enquiry agent would be helpful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Alderley Edge.

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Alderley Edge. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Alderley Edge ?

Most houses in Alderley Edge are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Alderley Edge in which case you should be shopping around for a Alderley Edge conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I own a leasehold house in Alderley Edge. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Alderley Edge who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Alderley Edge conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a reputable estate agency in Alderley Edge where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Alderley Edge conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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 provide any top tips for leasehold conveyancing in Alderley Edge with the aim of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Alderley Edge can be reduced where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Alderley Edge leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such changes. If you dont have the approvals in place do not communicate with the landlord without contacting your solicitor in advance.
  • A minority of Alderley Edge leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a replacement share certificate can be a time consuming formality and delays many a Alderley Edge home move. Where a reissued share is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • I inherited a studio flat in Alderley Edge, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Alderley Edge with a long lease are worth £249,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2091

    With only 67 years unexpired we estimate the price of your lease extension to range between £14,300 and £16,400 as well as legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

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    Lease Extensions in Alderley Edge