Having had my offer accepted I require leasehold conveyancing in Prestbury. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - 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.

Estate agents have just been given the go-ahead to market my ground floor apartment in Prestbury.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Prestbury. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Prestbury ?

The majority of houses in Prestbury are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Prestbury so you should seriously consider shopping around for a Prestbury conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Prestbury which have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Prestbury is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Prestbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What advice can you give us when it comes to appointing a Prestbury conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Prestbury conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Prestbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How familiar is the firm with lease extension legislation?
• Can they put you in touch with client in Prestbury who can give a testimonial?

Prestbury Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

The best form of lease structure is a share of the freehold. In this arrangement the lessees enjoy control and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.