Fixed-fee leasehold conveyancing in Bury:

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Bury, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Bury leasehold conveyancing

I only have Sixty One years left on my lease in Bury. I need to extend my lease but my landlord is can not be found. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. In some cases an enquiry agent may be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Bury.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Bury. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bury ?

The majority of houses in Bury are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Bury in which case you should be shopping around for a Bury conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.

I work for a busy estate agency in Bury where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Bury conveyancing solicitors. Can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?

Provided that 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 need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is 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 advice can you give us when it comes to appointing a Bury conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Bury conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Bury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If they are not ALEP accredited then what is the reason?
  • How many lease extensions has the firm carried out in Bury in the last 12 months?

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

    • A significant proportion of the frustration in leasehold conveyancing in Bury can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
    • Some Bury leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a new share certificate can be a lengthy formality and frustrates many a Bury home move. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (if relevant) 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 advisable verify this via your solicitors. A buyer’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. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Bury - Examples of Queries Prior to buying

      The answer will be important as a) areas can cause problems for the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the tenants have an issue with the managing agents you will need to have all the details Does the lease include onerous restrictions? Its a good idea to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters such as the tidiness of the common parts. Ask other people if they are happy with their management. On a final note, investigate as to the dates that the service fees are due to the relevant party and precisely what it includes.

    Other Topics

    Lease Extensions in Bury