Fixed-fee leasehold conveyancing in Baguley:

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Sample questions relating to Baguley leasehold conveyancing

I am on look out for some leasehold conveyancing in Baguley. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Baguley - 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.

Due to sign contracts shortly on a ground floor flat in Baguley. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • The physical extent of the premises. This will be the flat itself but may incorporate a loft or cellar if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Baguley please ask your conveyancer in ahead of your conveyancing in Baguley

    • I work for a busy estate agency in Baguley where we have witnessed a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Baguley conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension process 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

    Alternatively, it may be possible 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.

    What are your top tips when it comes to choosing a Baguley conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for lease extension works (regardless if they are a Baguley conveyancing practice) 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 make enquires with several firms including non Baguley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • If they are not ALEP accredited then why not?
  • What are the charges for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Baguley with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Baguley can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
    • The majority freeholders or Management Companies in Baguley levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Baguley.
  • Some Baguley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a new share certificate can be a time consuming process and delays many a Baguley home move. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Baguley - A selection of Queries Prior to buying

      How many of the leaseholders are in arrears for their service charge payments? Does the lease have more than 80 years unexpired? Who takes charge for maintaining and repairing the building?

    Other Topics

    Lease Extensions in Baguley