Fixed-fee leasehold conveyancing in Prestwich:

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Leasehold conveyancing in Prestwich is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Prestwich and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Prestwich leasehold conveyancing: Q and A’s

I have just appointed agents to market my 2 bed apartment in Prestwich.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge 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've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Prestwich. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Prestwich are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Prestwich in which case you should be looking for a Prestwich conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out 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 conveyancer will advise you fully on all the issues.

I own a leasehold flat in Prestwich. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Prestwich who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Prestwich conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agent office in Prestwich where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Prestwich conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

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 purchaser.

Can you provide any top tips for leasehold conveyancing in Prestwich with the intention of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Prestwich can be reduced if you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers representatives.
  • The majority freeholders or managing agents in Prestwich 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 common cause of delay in leasehold conveyancing in Prestwich.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Prestwich leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord approving such works. Should you dont have the consents to hand do not contact the landlord without checking with your conveyancer in advance.
  • 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 purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 better to reveal the dispute as historic as opposed to ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Arranging a new share certificate is often a lengthy process and slows down many a Prestwich home move. If a duplicate share is needed, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • Prestwich Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      How much is the service charge and ground rent on the property? What is the name of the managing agents? It would be wise to discover if there is anything that is prohibited in the lease. For instance it is reasonably common in Prestwich leases that pets are not permitted in certain buildings in Prestwich. If you like the apartmentin Prestwich however your cat can’t live with you then you will be presented with a hard determination.

    Other Topics

    Lease Extensions in Prestwich