Experts for Leasehold Conveyancing in Macclesfield

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Macclesfield leasehold conveyancing Example Support Desk Enquiries

I only have Sixty One years left on my lease in Macclesfield. I need to extend my lease but my freeholder is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the lessor. In some cases a specialist may be helpful to conduct investigations and to produce a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Macclesfield.

Due to sign contracts shortly on a ground floor flat in Macclesfield. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Setting out your rights in relation to the communal areas in the building.E.G., does the lease permit a right of way over a path or staircase?
  • Does the lease prevent you from letting out the flat, or having a home office for business
  • 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
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be contained in your report on your leasehold property in Macclesfield please ask your conveyancer in advance of your conveyancing in Macclesfield

    • My wife and I purchased a leasehold house in Macclesfield. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Macclesfield who previously acted has now retired.Any advice?

    First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Macclesfield conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold property in Macclesfield. Am I liable to pay service charges for periods before my ownership?

    In a situation where the service charge has already been demanded from the previous lessee 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 be sure 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).

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

    • A significant proportion of the delay in leasehold conveyancing in Macclesfield can be reduced if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Macclesfield state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you dont have the approvals to hand you should not contact the landlord without contacting your solicitor in advance.
  • A minority of Macclesfield 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 put in hand financial (bank) and professional references. Any 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 have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Obtaining a duplicate share certificate is often a time consuming formality and delays many a Macclesfield home move. Where a new share is needed, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • I am the registered owner of a split level flat in Macclesfield, conveyancing formalities finalised in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Macclesfield with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2083

    With 59 years left to run the likely cost is going to be between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Macclesfield