Having had my offer accepted I require leasehold conveyancing in Glossop. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Glossop - 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 want to sublet my leasehold apartment in Glossop. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last Glossop conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent from your landlord or some other party before subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my basement flat in Glossop.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge 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 management companies 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 attracted to a two flats in Glossop both have approximately fifty years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Glossop is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Glossop conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

We expect to complete the sale of our £175000 garden flat in Glossop in seven days. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Glossop?

Glossop conveyancing on leasehold apartments normally involves administration charges levied by managing agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Glossop
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Glossop leasehold premises is £350. For Glossop conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

Leasehold Conveyancing in Glossop - Sample of Questions you should ask before Purchasing

Best to be warned if changing the roof or some other major work is due shortly that will be shared amongst the leasehold owners and will dramatically impact the level of the maintenance fees or necessitate a one off payment. In the main the outlay for major works are not wrapped into the service charges, albeit that a few managing agents in Glossop require leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance. Who are the managing agents?

Other Topics

Lease Extensions in Glossop