Quality lawyers for Leasehold Conveyancing in Prestbury

When it comes to leasehold conveyancing in Prestbury, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, RBS or NatWest be sure to choose a lawyer on their panel. Find a Prestbury conveyancing lawyer with our search tool

Top Five Questions relating to Prestbury leasehold conveyancing

I am on look out for some leasehold conveyancing in Prestbury. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Prestbury - then the leasehold title will always include the basic details 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.

My fiance and I may need to rent out our Prestbury ground floor flat temporarily due to taking a sabbatical. We instructed a Prestbury conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Prestbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Estate agents have just been given the go-ahead to market my 2 bed flat in Prestbury.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?

It best that you 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 managing agents will not acknowledge the buyer unless 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 am looking at a two flats in Prestbury both have about forty five years remaining on the lease term. should I be concerned?

There are plenty of short leases in Prestbury. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I am a negotiator for a long established estate agency in Prestbury where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Prestbury conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence the lease extension process for the buyer?

As long as 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 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.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

I own a 1st floor flat in Prestbury, conveyancing was carried out in 1998. Can you work out an approximate cost of a lease extension? Corresponding properties in Prestbury with a long lease are worth £248,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2090

With 66 years left to run the likely cost is going to span between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

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Lease Extensions in Prestbury