Having had my offer accepted I require leasehold conveyancing in Knutsford. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Knutsford - 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.

I am attracted to a couple of maisonettes in Knutsford which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Knutsford. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not 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 get professional help from a solicitor and surveyor with experience in this field

I work for a busy estate agency in Knutsford where we have experienced a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local Knutsford conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

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

• A significant proportion of the frustration in leasehold conveyancing in Knutsford can be bypassed if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers representatives.
• 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 actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Knutsford.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Knutsford leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you dont have the consents to hand do not communicate with the landlord without checking with your conveyancer first.
• Some Knutsford leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain 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.
• If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a time consuming formality and frustrates many a Knutsford conveyancing deal. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where applicable) for this as soon as possible.

What are the common deficiencies that you witness in leases for Knutsford properties?

Leasehold conveyancing in Knutsford is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• 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

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Virgin Money, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I bought a leasehold flat in Knutsford, conveyancing was carried out 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Knutsford with over 90 years remaining are worth £246,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2100

With 74 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues 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 before getting professional advice.