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Recently asked questions relating to Oldham leasehold conveyancing

I am in need of some leasehold conveyancing in Oldham. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Oldham - 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.

Due to exchange soon on a basement flat in Oldham. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Oldham should include some of the following:

  • The total extent of the property. This will be the property itself but may include a roof space or basement if appropriate.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • 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. For a comprehensive list of information to be contained in your report on your leasehold property in Oldham please ask your solicitor in advance of your conveyancing in Oldham

    • I have just started marketing my ground floor flat in Oldham.Conveyancing has not commenced but I have just received a quarterly service charge invoice – what should I do?

    The sensible thing to do is clear the service charge 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 until 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've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Oldham. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Oldham ?

    The majority of houses in Oldham are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Oldham so you should seriously consider shopping around for a Oldham conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

    When it comes to leasehold conveyancing in Oldham what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Oldham. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Oldham Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      Who manages the building? Does the lease include onerous restrictions? The majority of Oldham leasehold flats will be liable to pay a service bill for the upkeep of the block invoiced on behalf of the landlord. Where you acquire the property you will have to meet this liability, normally periodically throughout the year. This may be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a rentcharge to be met yearly, this is usually not a large amount, say approximately £25-£75 but you should to enquire it because on occasion it can be many hundreds of pounds.

    Other Topics

    Lease Extensions in Oldham