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Recently asked questions relating to Chorley leasehold conveyancing

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Chorley. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Chorley ?

Most houses in Chorley are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Chorley so you should seriously consider looking for a Chorley conveyancing solicitor 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 at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

Back In 2007, I bought a leasehold house in Chorley. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Chorley who previously acted has now retired.Do I pay?

First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Chorley conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Chorley. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 Chorley from the perspective of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Chorley can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • The majority freeholders or Management Companies in Chorley levy fees 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 as soon as you have 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 Chorley.
  • Some Chorley leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents 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 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 buyers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. 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 discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 purchasers, but it is better to present the dispute as historic as opposed to unresolved.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a replacement share certificate can be a lengthy formality and frustrates many a Chorley conveyancing deal. If a reissued share is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.

  • We expect to complete the sale of our £375000 apartment in Chorley in 8 days. The managing agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Chorley?

    Chorley conveyancing on leasehold maisonettes often necessitates the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality one has little option but to pay whatever is requested of you if you want to sell the property.

    I purchased a basement flat in Chorley, conveyancing having been completed in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Chorley with an extended lease are worth £200,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2084

    You have 60 years unexpired we estimate the price of your lease extension to range between £24,700 and £28,600 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Chorley