Leasehold Conveyancing in Chorley - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Chorley, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or NatWest be sure to find a lawyer on their approved list. Feel free to use our search tool

Chorley leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Chorley. Before I get started I would like to find out 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 want to rent out my leasehold flat in Chorley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Chorley do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am attracted to a two flats in Chorley both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Chorley. The lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

I am a negotiator for a reputable estate agency in Chorley where we see a few flat sales derailed as a result of short leases. I have received conflicting advice from local Chorley conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 provide any top tips for leasehold conveyancing in Chorley with the purpose of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Chorley can be reduced if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Chorley leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such works. Where you dont have the approvals to hand do not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Chorley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 actual amount of the service charge 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 very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle 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 particulars 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 freehold, you should ensure that you hold the original share document. Organising a duplicate share certificate can be a time consuming formality and slows down many a Chorley home move. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

  • Chorley Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing

      Best to be warned whether changing the roof or some other major work is pending that will be shared between the leasehold owners and may well dramatically increase the the service fees or necessitate a one time invoice. The majority of Chorley leasehold properties will be liable to pay a service bill for maintenance of the block invoiced on behalf of the landlord. Where you acquire the apartment you will have to pay this contribution, normally in instalments during the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent for you to pay yearly, this is usually not a large sum, say around £50-£100 but you need to check it because on occasion it can be surprisingly expensive. What is the yearly service fee and ground rent?

    Other Topics

    Lease Extensions in Chorley