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Questions and Answers: Cleveleys leasehold conveyancing

Due to sign contracts shortly on a studio apartment in Cleveleys. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Cleveleys should include some of the following:

  • You should be sent a copy of the lease
  • The total extent of the demise. This will be the flat itself but may include a loft or basement if appropriate.
  • Defining your rights in relation to the communal areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Cleveleys please ask your conveyancer in ahead of your conveyancing in Cleveleys

    • Estate agents have just been given the go-ahead to market my 2 bed apartment in Cleveleys.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

    It best that you clear the service charge 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 am a negotiator for a busy estate agency in Cleveleys where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Cleveleys conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

    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 offer any advice when it comes to finding a Cleveleys conveyancing practice to deal with our lease extension?

    If you are instructing a solicitor for lease extension works (regardless if they are a Cleveleys conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Cleveleys conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Can you provide any advice for leasehold conveyancing in Cleveleys with the purpose of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Cleveleys can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
    • Many landlords or Management Companies in Cleveleys charge for providing 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 common reason for delay in leasehold conveyancing in Cleveleys.
  • A minority of Cleveleys leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice 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 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of 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 clearly preferable to present the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Cleveleys Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

      Are any of leasehold owners in dispute over their service charge liability? For many Cleveleys leaseholds the cost for major works tend not to be wrapped into the service charges, albeit that some managing agents in Cleveleys obliged leaseholders to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. The answer will be important as a) areas may result in problems in the building as the communal areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to know about it

    Other Topics

    Lease Extensions in Cleveleys