I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Marple. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Marple are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Marple so you should seriously consider shopping around for a Marple conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.

I've recently bought a leasehold property in Marple. 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 owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

I am employed by a reputable estate agent office in Marple where we have witnessed a few flat sales jeopardised as a result of short leases. I have received contradictory information from local Marple conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

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.

Do you have any top tips for leasehold conveyancing in Marple from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Marple can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
• Many landlords or managing agents in Marple charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Marple.

If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Marple state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such changes. If you dont have the paperwork in place you should not communicate with the landlord without checking with your lawyer in advance.

Some Marple leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (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 service charge figures so that they can pass this information on to the purchasers or their solicitors.

If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. 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 better to reveal the dispute as over as opposed to unsettled.

Completion in due on the sale of our £400000 garden flat in Marple in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Marple?

For the majority of leasehold sales in Marple conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract enquiries
• Where consent is required before sale in Marple
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Marple leasehold property is £350. For Marple 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 supply the information.

Leasehold Conveyancing in Marple - Examples of Questions you should consider Prior to Purchasing

Who takes responsibility for maintaining and repairing the building? Be sure to enquire if there is anything that is prohibited in the lease. For example it is reasonably common in Marple leases that pets are not allowed in certain buildings in Marple. If you like the propertyin Marple but your dog is not allowed to live with you then you will be faced difficult compromise. The majority of Marple leasehold flats will be liable to pay a service bill for maintenance of the block set by the landlord. Should you acquire the apartment you will have to meet this amount, usually quarterly throughout the year. This can be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a rentcharge for you to pay annual, ordinarily this is not a significant sum, say approximately £50-£100 but you need to check as on occasion it can be surprisingly expensive.

Other Topics

Lease Extensions in Marple