Sample questions relating to Alsager leasehold conveyancing
I am in need of some leasehold conveyancing in Alsager. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Alsager - 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.
Having checked my lease I have discovered that there are only Seventy years left on my lease in Alsager. I need to extend my lease but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, 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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the landlord. On the whole a specialist may be useful to try and locate and prepare a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court covering Alsager.
I am attracted to a two flats in Alsager which have about 50 years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field
Completion in due on the sale of our £425000 garden flat in Alsager in 8 days. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Alsager?
Alsager conveyancing on leasehold flats normally requires the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Are there common problems that you see in leases for Alsager properties?
There is nothing unique about leasehold conveyancing in Alsager. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- 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
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Virgin Money, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.
Alsager Leasehold Conveyancing - Examples of Queries Prior to Purchasing
It would be sensible to discover if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in Alsager. If you like the flatin Alsager but your cat can’t live with you then you will be faced hard determination.
How long is the Lease?
Best to be warned whether redecorating or some other significant cost is anticipated that will be shared amongst the leasehold owners and will dramatically impact the level of the service costs or necessitate a one off payment.