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Recently asked questions relating to Middlewich leasehold conveyancing

Looking forward to complete next month on a studio apartment in Middlewich. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

  • Setting out your rights in relation to common areas in the building.For instance, does the lease contain a right of way over a path or staircase?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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
  • Repair and maintenance of the flat
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Middlewich please ask your conveyancer in ahead of your conveyancing in Middlewich

    • My wife and I purchased a leasehold house in Middlewich. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Middlewich 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. It is not necessary to instruct a Middlewich conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am looking at a two maisonettes in Middlewich both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. 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 extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Middlewich with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Middlewich can be avoided if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
    • Many freeholders or Management Companies in Middlewich charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Middlewich.
  • A minority of Middlewich leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, 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 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 buyers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 clearly preferable to present the dispute as over as opposed to unresolved.
  • You believe that you know the number of years left on your lease but you should double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Middlewich lease problematic?

    There is nothing unique about leasehold conveyancing in Middlewich. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements 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 a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

    I inherited a ground floor flat in Middlewich, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Middlewich with an extended lease are worth £236,000. The ground rent is £60 invoiced annually. The lease runs out on 21st October 2083

    You have 58 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 plus legals.

    The suggested premium range that we have given is 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 other issues 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 without first getting professional advice.

    Other Topics

    Lease Extensions in Middlewich