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

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Handforth, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Handforth leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Handforth. I now want to get lease extension but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the landlord. In some cases an enquiry agent may be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Handforth.

Planning to complete next month on a studio apartment in Handforth. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

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

  • The total extent of the property. This will be the flat itself but may include a loft or basement if appropriate.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Whether the lease restricts you from subletting the property, or working from home
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be included in your report on your leasehold property in Handforth please enquire of your conveyancer in advance of your conveyancing in Handforth

    • I am looking at a two flats in Handforth which have about fifty 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 marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Handforth from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Handforth can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
    • The majority landlords or Management Companies in Handforth levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Handforth.
  • A minority of Handforth leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain 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 purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is 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 pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 details of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unsettled.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • When it comes to leasehold conveyancing in Handforth what are the most frequent lease defects?

    Leasehold conveyancing in Handforth is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Handforth Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying

      Is anyone aware of any major works in the planning that will add a premium to the service fees? Its a good idea to find out as much as possible concerning the managing agents as they can either make your living at the property much simpler or a lot more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the upkeep of the communal areas. You should not be shy to ask other people what they think of their service. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. What is the the remaining lease term?

    Other Topics

    Lease Extensions in Handforth