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Questions and Answers: Cheadle leasehold conveyancing

I am in need of some leasehold conveyancing in Cheadle. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and most are in Cheadle - 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.

Expecting to exchange soon on a basement flat in Cheadle. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Cheadle should include some of the following:

  • You should receive a copy of the lease
  • 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
  • Setting out your rights in respect of common areas in the block.E.G., does the lease grant a right of way over a path or hallways?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be contained in your report on your leasehold property in Cheadle please ask your conveyancer in ahead of your conveyancing in Cheadle

    • Estate agents have just been given the go-ahead to market my 2 bed flat in Cheadle.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – what should I do?

    Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I own a leasehold flat in Cheadle. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Cheadle who previously acted has long since retired.Any advice?

    First make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to instruct a Cheadle conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Do you have any advice for leasehold conveyancing in Cheadle with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Cheadle can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Cheadle leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you dont have the paperwork in place do not contact the landlord without contacting your lawyer first.
  • A minority of Cheadle leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of 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 as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate is often a time consuming formality and slows down many a Cheadle conveyancing deal. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • I acquired a 1st floor flat in Cheadle, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Cheadle with over 90 years remaining are worth £270,000. The ground rent is £55 yearly. The lease terminates on 21st October 2079

    With just 55 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 plus legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Cheadle