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

Assuming the lease is registered - and most are in Ramsbottom - 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.

I've recently bought a leasehold house in Ramsbottom. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to finding a Ramsbottom conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Ramsbottom conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Ramsbottom conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the firm with lease extension legislation?

If the firm is not ALEP accredited then why not?

Do you have any top tips for leasehold conveyancing in Ramsbottom with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Ramsbottom can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
• Many landlords or Management Companies in Ramsbottom charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Ramsbottom.

In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Ramsbottom leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such works. Where you fail to have the consents to hand you should not communicate with the landlord without contacting your lawyer before hand.

If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate can be a time consuming formality and delays many a Ramsbottom conveyancing transaction. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

You believe that you know the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

We expect to complete our sale of a £125000 apartment in Ramsbottom on Tuesday in a week. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Ramsbottom?

Ramsbottom conveyancing on leasehold flats normally results in administration charges raised by management companies :

• Completing pre-exchange questions
• Where consent is required before sale in Ramsbottom
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Ramsbottom leasehold premises is £350. For Ramsbottom conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

Ramsbottom Leasehold Conveyancing - A selection of Queries before Purchasing

The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees benefit from control and notwithstanding that a managing agent is frequently employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. This information is useful as a) areas could cause problems in the block as the communal areas may begin to deteriorate where repairs are not paid for b) if the leaseholders have a dispute with the running of the building you will wish to have all the details Are any of leasehold owners in arrears of their service charge liability?

Other Topics

Lease Extensions in Ramsbottom