Frequently asked questions relating to Chorley leasehold conveyancing
I am in need of some leasehold conveyancing in Chorley. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Chorley - 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.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Chorley. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Chorley ?
The majority of houses in Chorley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Chorley so you should seriously consider shopping around for a Chorley conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I own a leasehold flat in Chorley. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Chorley who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Chorley conveyancing lawyer to do this as it can be done on-line for £3. Rest assured 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 work for a busy estate agent office in Chorley where we have witnessed a number of flat sales put at risk due to short leases. I have received inconsistent advice from local Chorley conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Can you offer any advice when it comes to finding a Chorley conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Chorley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Chorley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Chorley Leasehold Conveyancing - Sample of Questions you should ask before buying
What is the length of the lease?
The majority of Chorley leasehold apartments will have a service charge for maintenance of the block invoiced on behalf of the management company. Should you acquire the property you will have to meet this charge, normally in instalments throughout the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a ground rent to be met annual, ordinarily this is not a significant amount, say approximately £50-£100 but you should to check as on occasion it can be surprisingly expensive.
What is the name of the managing agents?