Frequently asked questions relating to Congleton leasehold conveyancing
I am on look out for some leasehold conveyancing in Congleton. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and most are in Congleton - 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 am intending to sublet my leasehold flat in Congleton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your previous Congleton conveyancing lawyer is no longer available you can check your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must obtain permission via your landlord or some other party before subletting. This means that you cannot sublet in the absence of prior consent. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I’m about to sell my garden apartment in Congleton.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a two apartments in Congleton which have approximately 50 years remaining on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
I am a negotiator for a reputable estate agency in Congleton where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Congleton conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. This means that the buyer 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 prior to, or at the same time as 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 purchaser.
Leasehold Conveyancing in Congleton - Examples of Queries before Purchasing
It is important to be aware whether fixing the lift or some other significant cost is coming up to be shared amongst the leaseholders and may well materially increase the the maintenance costs or result in a one off payment.
The best form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and even though a managing agent is frequently employed where the building is bigger than a house conversion, the managing agent retained by the leaseholders.
Are any of leasehold owners in dispute over their service charge payments?