Fixed-fee leasehold conveyancing in Reddish:

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When it comes to leasehold conveyancing in Reddish, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Nationwide make sure you find a lawyer on their panel. Find a Reddish conveyancing lawyer with our search tool

Frequently asked questions relating to Reddish leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Reddish. I now wish to get lease extension but my freeholder is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. In some cases a specialist would be helpful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Reddish.

Back In 2005, I bought a leasehold house in Reddish. Conveyancing and Nottingham Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Reddish who acted for me is not around.What should I do?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Reddish conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of maisonettes in Reddish both have about fifty years remaining on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to choosing a Reddish conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Reddish conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Reddish conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • Can they put you in touch with client in Reddish who can give a testimonial?
  • What are the legal fees for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Reddish with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Reddish can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
    • Some Reddish leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Arranging a duplicate share certificate is often a lengthy process and frustrates many a Reddish conveyancing transaction. Where a reissued share is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the registered owner of a 1st floor flat in Reddish, conveyancing having been completed half a dozen years ago. 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? Equivalent properties in Reddish with a long lease are worth £175,000. The ground rent is £60 yearly. The lease expires on 21st October 2090

    With just 65 years left to run the likely cost is going to be between £16,200 and £18,600 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Reddish