Fixed-fee leasehold conveyancing in Alsager:

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When it comes to leasehold conveyancing in Alsager, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or Nationwide be sure to find a lawyer on their approved list. Find a Alsager conveyancing lawyer with our search tool

Alsager leasehold conveyancing: Q and A’s

Looking forward to exchange soon on a leasehold property in Alsager. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • Defining your legal entitlements in respect of the communal areas in the building.For instance, does the lease include a right of way over an accessway or hallways?
  • Does the lease prohibit wood flooring?
  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be contained in your report on your leasehold property in Alsager please enquire of your conveyancer in advance of your conveyancing in Alsager

    • I am a negotiator for a reputable estate agent office in Alsager where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Alsager conveyancing firms. Could you shed some light as to whether the seller of a flat can instigate 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 buyer 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 before, or at the same time as completion of the sale.

    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 buyer.

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

    When appointing a property lawyer for lease extension works (regardless if they are a Alsager conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Alsager conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How many lease extensions has the firm completed in Alsager in the last year?
  • What are the charges for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Alsager with the intention of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Alsager can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or Management Companies in Alsager charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Alsager.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Alsager state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. If you dont have the approvals in place do not communicate with the landlord without checking with your lawyer before hand.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. 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 ahead of 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 clearly preferable to present the dispute as over as opposed to unsettled.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on the sale of our £275000 maisonette in Alsager next week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Alsager?

    Alsager conveyancing on leasehold apartments normally requires the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Alsager Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

      Does the lease include onerous restrictions? How is the lease structured? How many years are left on the lease?

    Other Topics

    Lease Extensions in Alsager