Experts for Leasehold Conveyancing in Middlewich

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Middlewich leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Middlewich. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Middlewich - then the leasehold title will always include the short particulars 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.

Helen (my wife) and I may need to let out our Middlewich 1st floor flat temporarily due to a career opportunity. We instructed a Middlewich conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Middlewich do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Last month I purchased a leasehold flat in Middlewich. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Can you provide any advice for leasehold conveyancing in Middlewich from the point of view of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Middlewich can be avoided where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority freeholders or managing agents in Middlewich levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Middlewich.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Middlewich leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. If you fail to have the consents in place do not contact the landlord without checking with your solicitor before hand.
  • Some Middlewich leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a time consuming formality and delays many a Middlewich conveyancing deal. Where a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

    • All being well we will complete our sale of a £125000 maisonette in Middlewich in just under a week. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Middlewich?

    Middlewich conveyancing on leasehold flats normally involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I invested in buying a 1 bedroom flat in Middlewich, conveyancing was carried out 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Middlewich with over 90 years remaining are worth £213,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ceases on 21st October 2093

    With 67 years left to run we estimate the premium for your lease extension to span between £12,400 and £14,200 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Middlewich