Experts for Leasehold Conveyancing in Lytham St Annes

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

Recently asked questions relating to Lytham St Annes leasehold conveyancing

I am on look out for some leasehold conveyancing in Lytham St Annes. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and almost all are in Lytham St Annes - 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've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Lytham St Annes. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Lytham St Annes are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Lytham St Annes in which case you should be looking for a Lytham St Annes conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Lytham St Annes which have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Lytham St Annes. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Lytham St Annes from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Lytham St Annes can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Lytham St Annes leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you fail to have the consents to hand do not contact the landlord without contacting your lawyer before hand.
  • Some Lytham St Annes leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • We expect to complete the sale of our £250000 flat in Lytham St Annes on Thursday in a week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Lytham St Annes?

    Lytham St Annes conveyancing on leasehold apartments often requires the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be willing to assist. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.

    I bought a ground floor flat in Lytham St Annes, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Lytham St Annes with an extended lease are worth £258,000. The ground rent is £60 per annum. The lease ends on 21st October 2082

    With only 56 years unexpired the likely cost is going to be between £30,400 and £35,200 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

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    Lease Extensions in Lytham St Annes