I am tempted by the attractive purchase price for a two apartments in Hulme both have approximately forty five years left on the leases. Will this present a problem?

There are plenty of short leases in Hulme. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to choosing a Hulme conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Hulme conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Hulme conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If they are not ALEP accredited then what is the reason?
• What are the costs for lease extension conveyancing?

Do you have any top tips for leasehold conveyancing in Hulme from the point of view of expediting the sale process?

• Much of the delay in leasehold conveyancing in Hulme can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Hulme levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Hulme.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Hulme leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord approving such works. Should you dont have the paperwork to hand do not communicate with the landlord without checking with your lawyer in advance.
• Some Hulme leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important 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 home on the market for sale.

We expect to complete the disposal of our £ 325000 apartment in Hulme next Wednesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Hulme?

For most leasehold sales in Hulme conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Hulme
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Hulme leasehold property is £350. For Hulme conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

When it comes to leasehold conveyancing in Hulme what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Hulme. All leases is drafted differently and legal mistakes in the legal wording 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 premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and Nottingham Building Society 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 does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Hulme Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying