I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Cheetham. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Cheetham are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Cheetham so you should seriously consider shopping around for a Cheetham conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am tempted by the attractive purchase price for a two maisonettes in Cheetham both have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Cheetham is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and banks, leases with under 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 Cheetham 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 the agreed 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.

I've recently bought a leasehold property in Cheetham. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Cheetham from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Cheetham can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
• The majority freeholders or Management Companies in Cheetham charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Cheetham.
• Some Cheetham leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

If all goes to plan we aim to complete the sale of our £ 450000 garden flat in Cheetham on Thursday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Cheetham?

Cheetham conveyancing on leasehold maisonettes normally involves the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They may invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.

Cheetham Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

Make sure you find out if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in in a block in Cheetham. If you love the propertyin Cheetham yet your cat is not allowed to make the move with you then you will be presented with a difficult determination. Does the lease have in excess of 90 years unexpired?