Leasehold Conveyancing in Macclesfield - Get a Quote from the leasehold experts approved by your lender

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

Top Five Questions relating to Macclesfield leasehold conveyancing

I am on look out for some leasehold conveyancing in Macclesfield. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in Macclesfield - 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.

My fiance and I may need to let out our Macclesfield 1st floor flat for a while due to a career opportunity. We instructed a Macclesfield conveyancing practice in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Macclesfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Back In 2002, I bought a leasehold flat in Macclesfield. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Macclesfield who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that this person is indeed the new freeholder. You do not need to instruct a Macclesfield conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any top tips for leasehold conveyancing in Macclesfield with the purpose of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Macclesfield can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
  • Many freeholders or managing agents in Macclesfield charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Macclesfield.
  • A minority of Macclesfield 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 will need to confirm that the buyers are able to meet the yearly 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes 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 reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Macclesfield lease problematic?

    Leasehold conveyancing in Macclesfield is not unique. All leases is drafted differently and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Bank of Ireland all have express conveyancing instructions 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 grant the mortgage, forcing the buyer to withdraw.

    Macclesfield Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing

      You should be aware if it is fewer than 80 years it will affect the marketability of the flat. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you will need to own the residence for two years before you are eligible to carry out a lease extension. Can you tell me if there are any major works in the planning that will likely add a premium to the maintenance costs? Does the lease include onerous restrictions?

    Other Topics

    Lease Extensions in Macclesfield