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Leasehold conveyancing in Greasby is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Greasby and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Common questions relating to Greasby leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Greasby. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Greasby - then the leasehold title will always include the short particulars 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.

Planning to exchange soon on a ground floor flat in Greasby. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Greasby should include some of the following:

  • You should receive a copy of the lease
  • Setting out your rights in respect of the communal areas in the block.E.G., does the lease permit a right of way over an accessway or hallways?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Greasby please enquire of your solicitor in advance of your conveyancing in Greasby

    • I have just appointed agents to market my 2 bed apartment in Greasby.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

    The sensible thing to do is discharge the invoice 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 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've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Greasby. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Greasby ?

    Most houses in Greasby are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Greasby so you should seriously consider shopping around for a Greasby conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

    Do you have any advice for leasehold conveyancing in Greasby from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Greasby can be reduced where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers lawyers.
    • Some Greasby leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Obtaining a new share certificate can be a time consuming formality and delays many a Greasby home move. Where a new share is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I purchased a split level flat in Greasby, conveyancing formalities finalised 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Greasby with over 90 years remaining are worth £169,000. The ground rent is £55 per annum. The lease finishes on 21st October 2104

    You have 78 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Greasby