Leasehold Conveyancing in Bardsley - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Bardsley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Bardsley and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Bardsley leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Bardsley. Before I get started I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Bardsley - 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 68 years left on my lease in Bardsley. I now want to extend my lease but my landlord is can not be found. What should I do?

On the basis that 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 enable the lease to be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the landlord. In some cases an enquiry agent would be helpful to conduct investigations 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 conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Bardsley.

I am looking at a two maisonettes in Bardsley which have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Bardsley is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bardsley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to finding a Bardsley conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Bardsley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Bardsley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions have they conducted in Bardsley in the last twenty four months?

    • Do you have any advice for leasehold conveyancing in Bardsley with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Bardsley can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers solicitors.
    • Many landlords or Management Companies in Bardsley levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Bardsley.
  • Some Bardsley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Arranging a new share certificate can be a time consuming process and slows down many a Bardsley home move. If a new share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • 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 conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Bardsley Leasehold Conveyancing - Examples of Questions you should ask before buying

      You should be aware if it is no more than 80 years it will affect the value of the property. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this will be. For most Bardsleylease extensions you would need to own the property for a couple of years before you are eligible to extend the lease. Be sure to discover if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Bardsley. If you love the propertyin Bardsley however your cat can’t make the move with you then you will be faced difficult compromise. Its a good idea to discover as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day matters such as the tidiness of the communal areas. Enquire of other people what they think of their service. Finally, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically how they are spending that money.

    Other Topics

    Lease Extensions in Bardsley