Planning to exchange soon on a garden flat in Knutsford. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Knutsford should include some of the following:

• You should receive a copy of the lease

I’m about to sell my ground floor apartment in Knutsford.Conveyancing has not commenced but I have just had a quarterly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge 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 until 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 own a leasehold house in Knutsford. Conveyancing and Platform Home Loans Ltd mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Knutsford who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Knutsford conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Knutsford. Am I liable to pay 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

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

There is nothing unique about leasehold conveyancing in Knutsford. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. 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 building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

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 , Coventry Building Society, and Aldermore 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 provide security, forcing the buyer to pull out.

I am the registered owner of a leasehold flat in Knutsford, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Knutsford with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2081

You have 55 years remaining on your lease we estimate the premium for your lease extension to range between £32,300 and £37,400 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Knutsford