I have just appointed agents to market my ground floor flat in Levenshulme.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – Do I pay up?

The sensible thing to do is 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Levenshulme. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Levenshulme ?

Most houses in Levenshulme are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Levenshulme so you should seriously consider looking for a Levenshulme conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a two maisonettes in Levenshulme both have approximately fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Levenshulme is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most purchasers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Levenshulme conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am a negotiator for a busy estate agent office in Levenshulme where we see a number of leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Levenshulme conveyancing solicitors. Could you clarify whether the seller of a flat can start the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

All being well we will complete the sale of our £450000 garden flat in Levenshulme in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Levenshulme?

Levenshulme conveyancing on leasehold apartments normally necessitates fees being invoiced by landlords agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Levenshulme
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Levenshulme leasehold premises is £350. For Levenshulme 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 provide answers.

Levenshulme Leasehold Conveyancing - Examples of Questions you should consider before buying

Who manages the building? Is there a share of the freehold? Its a good idea to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. You should not be afraid to ask prospective neighbours whether they are happy with them. On a final note, be sure you discover the dates that the service charges are due to the relevant party and specifically what you get for your money.

Other Topics

Lease Extensions in Levenshulme