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Questions and Answers: Congleton leasehold conveyancing

I am intending to rent out my leasehold flat in Congleton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Congleton do not contain strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I've found a house that appears to meet my requirements, at a great price 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 issues purchasing a house with a leasehold title in Congleton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Congleton ?

The majority of houses in Congleton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Congleton in which case you should be looking for a Congleton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I've recently bought a leasehold flat in Congleton. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Congleton from the point of view of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Congleton can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers representatives.
  • Many freeholders or managing agents in Congleton levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Congleton.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Congleton leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such works. Should you dont have the consents to hand you should not contact the landlord without checking with your conveyancer first.
  • A minority of Congleton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Arranging a replacement share certificate can be a time consuming formality and delays many a Congleton home move. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • When it comes to leasehold conveyancing in Congleton what are the most frequent lease defects?

    Leasehold conveyancing in Congleton is not unique. All leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

    I acquired a studio flat in Congleton, conveyancing having been completed in 1999. How much will my lease extension cost? Corresponding properties in Congleton with over 90 years remaining are worth £232,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2105

    With only 80 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Congleton