Handforth leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Handforth. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Handforth - 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’m about to sell my garden flat in Handforth.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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 hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Handforth. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Handforth ?
The majority of houses in Handforth 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 clear that you are buying in Handforth so you should seriously consider shopping around for a Handforth conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
I am attracted to a couple of flats in Handforth both have in the region of 50 years left on the leases. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in Handforth with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Handforth can be avoided where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
- Many landlords or managing agents in Handforth levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. 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 frequent reason for delay in leasehold conveyancing in Handforth.
I own a split level flat in Handforth, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding flats in Handforth with an extended lease are worth £258,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2077
With 56 years remaining on your lease the likely cost is going to be between £30,400 and £35,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.