Fixed-fee leasehold conveyancing in Rainhill:

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Rainhill leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Rainhill. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Rainhill - 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.

Expecting to sign contracts shortly on a ground floor flat in Rainhill. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Whether the lease restricts you from renting out the property, or working from home
  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Rainhill please ask your solicitor in ahead of your conveyancing in Rainhill

    • My wife and I purchased a leasehold flat in Rainhill. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Rainhill who previously acted has now retired.Any advice?

    First contact HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Rainhill conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a two maisonettes in Rainhill both have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold flat in Rainhill is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more positive 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 Rainhill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

    Do you have any advice for leasehold conveyancing in Rainhill with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Rainhill can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
    • The majority landlords or Management Companies in Rainhill charge for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Rainhill.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Rainhill leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you dont have the approvals in place you should not communicate with the landlord without checking with your solicitor before hand.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I inherited a leasehold flat in Rainhill, conveyancing formalities finalised 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Rainhill with over 90 years remaining are worth £267,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2100

    With only 75 years left to run the likely cost is going to range between £9,500 and £11,000 as well as professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Rainhill