Experts for Leasehold Conveyancing in Hyde

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

Sample questions relating to Hyde leasehold conveyancing

I am in need of some leasehold conveyancing in Hyde. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Hyde - 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.

Back In 2003, I bought a leasehold house in Hyde. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Hyde who acted for me is not around.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Hyde conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Hyde. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am a negotiator for a busy estate agency in Hyde where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Hyde conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any top tips for leasehold conveyancing in Hyde with the intention of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Hyde can be avoided where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
  • Many landlords or managing agents in Hyde charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought 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 frequent cause of frustration in leasehold conveyancing in Hyde.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a new share certificate can be a time consuming process and delays many a Hyde home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is below 75 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • Hyde Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

      You should be aware if it is no more than eighty years it will affect the marketability of the apartment. It is worth checking with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension at some point and you need to have some idea of how much this will be. For most Hydelease extensions you will be be obliged to have owned the residence for a couple of years in order to be eligible to extend the lease. This question is useful as a) areas can cause problems in the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have an issue with the running of the building you will need to have full disclosure It would be prudent to discover as much as possible concerning the company managing the block as they will either make living at the property much easier or much more difficult. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to daily issues such as the upkeep of the common parts. Ask other people what they think of their management. On a final note, be sure you discover the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money.

    Other Topics

    Lease Extensions in Hyde