Guaranteed fixed fees for Leasehold Conveyancing in Chorley

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Recently asked questions relating to Chorley leasehold conveyancing

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.

If the lease is registered - and most are in Chorley - then the leasehold title will always include the basic details 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've found a house that appears to be perfect, at a great figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Chorley. Conveyancing solicitors have are soon 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. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Chorley so you should seriously consider shopping around for a Chorley conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee 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’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

My wife and I purchased a leasehold flat in Chorley. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Chorley who previously acted has long since retired.Do I pay?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Chorley conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, 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 long established estate agency in Chorley where we see a few leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Chorley conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is 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.

Can you provide any top tips for leasehold conveyancing in Chorley with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Chorley can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers solicitors.
  • Many freeholders or managing agents in Chorley levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Chorley.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Chorley state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. If you dont have the consents in place you should not communicate with the landlord without contacting your solicitor before hand.
  • A minority of Chorley 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 financial (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 purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Organising a re-issued share certificate can be a lengthy formality and slows down many a Chorley home move. If a reissued share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

  • Chorley Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      On the whole the cost for major works tend not to be wrapped into the service charges, although a few managing agents in Chorley obliged leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance. Many Chorley leasehold properties will incur a service charge for maintenance of the block invoiced on behalf of the landlord. If you purchase the apartment you will have to meet this amount, normally quarterly accross the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge to be met yearly, this is usually not a significant sum, say approximately £25-£75 but you need to check as occasionally it can be many hundreds of pounds. The answer will be helpful as a) areas can result in problems for the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will need to know about it

    Other Topics

    Lease Extensions in Chorley