Having had my offer accepted I require leasehold conveyancing in Madeley. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Madeley - 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.

Estate agents have just been given the go-ahead to market my ground floor apartment in Madeley.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 unless 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 today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Madeley. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Madeley ?

The majority of houses in Madeley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Madeley in which case you should be shopping around for a Madeley conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of apartments in Madeley which have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Madeley. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I work for a reputable estate agent office in Madeley where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Madeley conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 purchaser.

Madeley Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

Are any of leasehold owners in dispute over their service charge liability? How much is the ground rent and service charge? Be sure to investigate if there is anything that is prohibited in the lease. For instance it is fairly common in Madeley leases that pets are not allowed in in a block in Madeley. If you like the flatin Madeley yet your cat can’t make the move with you then you will be faced hard compromise.

Other Topics

Lease Extensions in Madeley