Common questions relating to Altrincham leasehold conveyancing
I am on look out for some leasehold conveyancing in Altrincham. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Altrincham - then the leasehold title will always include the basic details 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.
I have just appointed agents to market my garden apartment in Altrincham.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear 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 managing agents 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 am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Altrincham. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Altrincham 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. We note that you are purchasing in Altrincham in which case you should be shopping around for a Altrincham conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
What advice can you give us when it comes to choosing a Altrincham conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Altrincham conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Altrincham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Altrincham from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Altrincham can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Altrincham state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you dont have the paperwork to hand do not communicate with the landlord without checking with your conveyancer in the first instance.
Altrincham Conveyancing for Leasehold Flats - Sample of Queries before buying
Where a Altrincham lease has fewer than eighty years it will impact the value of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. A short lease means that you will probably have to extend the lease at some point and it is worth discovering what this will be. Remember, in most cases you will be required to have owned the premises for two years before you are entitled to extend the lease.
Many Altrincham leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced by the landlord. Where you acquire the flat you will have to meet this charge, normally periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent for you to pay annual, ordinarily this is not a significant figure, say around £25-£75 but you need to check it because sometimes it can be prohibitively expensive.
Is there a share of the freehold?