Guaranteed fixed fees for Leasehold Conveyancing in Cheadle

Get a Quote

When it comes to leasehold conveyancing in Cheadle, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or NatWest be sure to choose a lawyer on their panel. Feel free to use our search tool

Frequently asked questions relating to Cheadle leasehold conveyancing

My wife and I purchased a leasehold flat in Cheadle. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Cheadle who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Cheadle conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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.

I am looking at a two maisonettes in Cheadle both have approximately 50 years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Cheadle. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

I am a negotiator for a long established estate agency in Cheadle where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Cheadle conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension formalities 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 proposed purchaser 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 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 buyer.

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

If you are instructing a solicitor for your lease extension (regardless if they are a Cheadle conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Cheadle 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:

  • How experienced is the firm with lease extension legislation?
  • How many lease extensions have they completed in Cheadle in the last year?

    • Do you have any top tips for leasehold conveyancing in Cheadle from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Cheadle can be reduced 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 purchasers’ conveyancers.
    • The majority landlords or Management Companies in Cheadle charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. 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 Cheadle.
  • A minority of Cheadle 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 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 buyers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a new share certificate can be a lengthy process and frustrates many a Cheadle home move. Where a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is important 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 property on the market for sale.

    • Leasehold Conveyancing in Cheadle - Examples of Queries before Purchasing

      How many of the leaseholders are in arrears for their service charge payments? What is the maintenance charge and ground rent on the flat? It would be sensible to discover as much as possible regarding the company managing the building as they can either make your living at the property much simpler or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to every day matters like the cleanliness of the communal areas. You should not be shy to ask other tenants if they are happy with them. In conclusion, find out the dates that the maintenance fees are due to the managing agents and specifically what it includes.

    Other Topics

    Lease Extensions in Cheadle