Leasehold Conveyancing in Great Sankey - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Great Sankey 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 Great Sankey and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Great Sankey leasehold conveyancing

I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Great Sankey. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Great Sankey are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Great Sankey in which case you should be looking for a Great Sankey conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Great Sankey both have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Great Sankey. The lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

What are your top tips when it comes to choosing a Great Sankey conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Great Sankey conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Great Sankey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Great Sankey from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Great Sankey can be reduced where 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 purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Great Sankey state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such changes. If you fail to have the paperwork in place do not contact the landlord without contacting your solicitor before hand.
  • A minority of Great Sankey 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 put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 buyers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate is often a lengthy process and frustrates many a Great Sankey home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • What are the common deficiencies that you encounter in leases for Great Sankey properties?

    Leasehold conveyancing in Great Sankey is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

    Leasehold Conveyancing in Great Sankey - A selection of Questions you should ask Prior to Purchasing

      The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is often retained where it is bigger than a house conversion, the managing agent retained by the leaseholders. Best to be warned if fixing the lift or some other major work is due shortly that will be shared by the leasehold owners and may well materially increase the the service charges or require a specific invoice. Make sure you find out if the the lease includes any onerous restrictions in the lease. For instance it is reasonably common in Great Sankey leases that pets are not permitted in in a block in Great Sankey. If you love the flatin Great Sankey but your dog is not allowed to make the move with you then you will be presented with a hard choice.

    Other Topics

    Lease Extensions in Great Sankey