Fixed-fee leasehold conveyancing in Knutsford:

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When it comes to leasehold conveyancing in Knutsford, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or NatWest make sure you find a lawyer on their approved list. Find a Knutsford conveyancing lawyer with our search tool

Recently asked questions relating to Knutsford leasehold conveyancing

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

If the lease is registered - and 99.9% are in Knutsford - then the leasehold title will always include the short particulars 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.

Looking forward to sign contracts shortly on a basement flat in Knutsford. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • 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 the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Knutsford please enquire of your solicitor in ahead of your conveyancing in Knutsford

    • I am looking at a couple of flats in Knutsford which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

    A lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes 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 enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

    Do you have any advice for leasehold conveyancing in Knutsford with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Knutsford can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
    • Many landlords or Management Companies in Knutsford levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack 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 common reason for delay in leasehold conveyancing in Knutsford.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Knutsford state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Where you fail to have the approvals in place do not contact the landlord without contacting your solicitor in advance.
  • Some Knutsford leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 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 premises on the market for sale.

    • Are there frequently found problems that you encounter in leases for Knutsford properties?

    There is nothing unique about leasehold conveyancing in Knutsford. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. 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 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

    You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and TSB 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, obliging the buyer to pull out.

    I purchased a basement flat in Knutsford, conveyancing was carried out 1999. Can you work out an approximate cost of a lease extension? Similar flats in Knutsford with over 90 years remaining are worth £245,000. The ground rent is £65 per annum. The lease expires on 21st October 2094

    You have 72 years unexpired the likely cost is going to range between £14,300 and £16,400 as well as legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Knutsford