Frequently asked questions relating to Frodsham leasehold conveyancing
Planning to sign contracts shortly on a garden flat in Frodsham. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Frodsham should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
- Setting out your rights in respect of the communal areas in the block.E.G., does the lease permit a right of way over a path or staircase?
- You must be told what counts as a Nuisance in the lease
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- Responsibility for repairing the window frames
- What the implications are if you breach a clause of your lease?
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Frodsham. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Frodsham ?
The majority of houses in Frodsham are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Frodsham so you should seriously consider looking for a Frodsham conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.
I am attracted to a two maisonettes in Frodsham both have approximately fifty years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Frodsham. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this area
Do you have any top tips for leasehold conveyancing in Frodsham with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Frodsham can be bypassed where you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority freeholders or Management Companies in Frodsham levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Frodsham.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Frodsham state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such works. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your solicitor before hand.
- A minority of Frodsham leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
- If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate can be a time consuming formality and frustrates many a Frodsham home move. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
We expect to complete the sale of our £ 475000 apartment in Frodsham in 10 days. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Frodsham?
Frodsham conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I invested in buying a 1 bedroom flat in Frodsham, conveyancing was carried out 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Frodsham with over 90 years remaining are worth £225,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2096
You have 70 years unexpired the likely cost is going to be between £10,500 and £12,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.