I am on look out for some leasehold conveyancing in Bardsley. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Bardsley - 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've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Bardsley. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Bardsley ?

Most houses in Bardsley are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Bardsley so you should seriously consider looking for a Bardsley conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I work for a long established estate agency in Bardsley where we have witnessed a number of flat sales put at risk due to short leases. I have received conflicting advice from local Bardsley conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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.

What advice can you give us when it comes to finding a Bardsley conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Bardsley conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Bardsley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?

When it comes to leasehold conveyancing in Bardsley what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Bardsley. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Bank of Scotland, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Bardsley - A selection of Questions you should ask Prior to buying

Be sure to discover if the the lease contains any onerous restrictions in the lease. For example it is fairly common in Bardsley leases that pets are not permitted in in a block in Bardsley. If you love the apartmentin Bardsley but your dog can’t make the move with you then you will be presented with a difficult compromise. What is the maintenance charge and ground rent on the apartment? Best to be warned if window replacement or some other major work is due shortly to be shared amongst the tenants and will dramatically impact the level of the service fees or require a specific payment.

Other Topics

Lease Extensions in Bardsley