Examples of recent questions relating to leasehold conveyancing in Chorlton
Having had my offer accepted I require leasehold conveyancing in Chorlton. Before I get started I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Chorlton - 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.
My wife and I may need to rent out our Chorlton 1st floor flat for a while due to taking a sabbatical. We used a Chorlton conveyancing firm in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Chorlton do not contain subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Estate agents have just been given the go-ahead to market my 2 bed flat in Chorlton.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – what should I do?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Chorlton. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Chorlton ?
The majority of houses in Chorlton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Chorlton so you should seriously consider looking for a Chorlton conveyancing practitioner 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. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
I am looking at a two apartments in Chorlton both have in the region of fifty years left on the lease term. Will this present a problem?
There are plenty of short leases in Chorlton. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field
I am the registered owner of a basement flat in Chorlton, conveyancing was carried out 2007. Can you work out an approximate cost of a lease extension? Corresponding properties in Chorlton with over 90 years remaining are worth £208,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2082
With just 56 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
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