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Any conveyancing practice can theoretically handle 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

Questions and Answers: Alderley Edge leasehold conveyancing

There are only 62 years remaining on my lease in Alderley Edge. I am keen to get lease extension but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the lessor. For most situations a specialist may be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Alderley Edge.

I’m about to sell my basement flat in Alderley Edge.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 until 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. This will smooth the conveyancing process.

I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Alderley Edge. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Alderley Edge ?

The majority of houses in Alderley Edge are freehold rather than leasehold. This is one of the situations where 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 are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

Can you provide any advice for leasehold conveyancing in Alderley Edge from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Alderley Edge can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Alderley Edge state that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such alterations. Should you dont have the approvals to hand you should not contact the landlord without checking with your lawyer in the first instance.
  • A minority of Alderley Edge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a lengthy formality and slows down many a Alderley Edge home move. If a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • When it comes to leasehold conveyancing in Alderley Edge what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Alderley Edge. All leases is drafted differently and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter 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. Birmingham Midshires, The Royal Bank of Scotland, and Bank of Ireland 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 grant the mortgage, forcing the buyer to withdraw.

    Alderley Edge Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying

      The prefered form of lease structure is a share of the freehold. In this scenario the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent employed by the leaseholders. Are any of leasehold owners in dispute over their service charge liability? This information is important as a) areas can result in problems for the building as the common areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have all the details

    Other Topics

    Lease Extensions in Alderley Edge