Fixed-fee leasehold conveyancing in Nantwich:

When it comes to leasehold conveyancing in Nantwich, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, RBS or Nationwide make sure you choose a lawyer on their approved list. Find a Nantwich conveyancing lawyer with our search tool

Questions and Answers: Nantwich leasehold conveyancing

I have recently realised that I have Fifty years left on my flat in Nantwich. I now wish to get lease extension but my freeholder is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent would be useful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Nantwich.

Expecting to exchange soon on a leasehold property in Nantwich. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Defining your legal entitlements in relation to the communal areas in the block.E.G., does the lease include a right of way over a path or staircase?
  • Does the lease prevent you from subletting the property, or working from home
  • You must be told what counts as a Nuisance in the lease
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be included in your report on your leasehold property in Nantwich please enquire of your solicitor in advance of your conveyancing in Nantwich

  • I work for a long established estate agent office in Nantwich where we see a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local Nantwich conveyancing firms. Please can you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner 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. This means that the proposed purchaser need not have to sit tight for 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 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 buyer.

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

    • Much of the delay in leasehold conveyancing in Nantwich can be bypassed where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
    • The majority freeholders or managing agents in Nantwich levy fees for supplying 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 reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Nantwich.
  • A minority of Nantwich leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be nervous about purchasing 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 the buyers completing the purchase. 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 buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Arranging a re-issued share certificate is often a lengthy formality and slows down many a Nantwich conveyancing transaction. If a reissued share is required, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 apartment in Nantwich in nine days. The landlords agents has quoted £408 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Nantwich?

    Nantwich conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They may charge 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 £350, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I own a 2 bed flat in Nantwich, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Nantwich with over 90 years remaining are worth £251,000. The ground rent is £45 per annum. The lease terminates on 21st October 2074

    You have 52 years remaining on your lease we estimate the premium for your lease extension to range between £38,000 and £44,000 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Nantwich