Fixed-fee leasehold conveyancing in Great Sankey:

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When it comes to leasehold conveyancing in Great Sankey, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or Bradford & Bingley make sure you choose a lawyer on their approved list. Find a Great Sankey conveyancing lawyer with our search tool

Common questions relating to Great Sankey leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Great Sankey. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Great Sankey - 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.

I’m about to sell my basement apartment in Great Sankey.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Great Sankey. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Great Sankey ?

Most houses in Great Sankey are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Great Sankey in which case you should be looking for a Great Sankey conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Great Sankey both have about fifty years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Great Sankey. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. 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 because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Great Sankey with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Great Sankey can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers representatives.
  • Many freeholders or Management Companies in Great Sankey levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information 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 frustration in leasehold conveyancing in Great Sankey.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to 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 clearly preferable to reveal the dispute as historic rather than unresolved.
  • If you hold a share in a the freehold, you should make sure that you have the original share certificate. Obtaining a new share certificate can be a time consuming formality and delays many a Great Sankey conveyancing deal. Where a new share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I invested in buying a ground floor flat in Great Sankey, conveyancing was carried out in 2002. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Great Sankey with a long lease are worth £215,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2097

    You have 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Great Sankey