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Sample questions relating to Failsworth leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Failsworth. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Failsworth - 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.

There are only Sixty One years left on my lease in Failsworth. I am keen to get lease extension but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases a specialist should be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Failsworth.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Failsworth. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Failsworth are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Failsworth so you should seriously consider looking for a Failsworth conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.

My wife and I purchased a leasehold house in Failsworth. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Failsworth who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Failsworth conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Failsworth from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Failsworth can be bypassed if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • Many freeholders or Management Companies in Failsworth charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information 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 frequent cause of frustration in leasehold conveyancing in Failsworth.
  • Some Failsworth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (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 purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Failsworth Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

      Can you inform me if there are any major works in the near future that could increase the service charges? The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees have being in charge if their destiny and notwithstanding that a managing agent is frequently employed if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Who are the managing agents?

    Other Topics

    Lease Extensions in Failsworth