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Questions and Answers: Saltney leasehold conveyancing

I am in need of some leasehold conveyancing in Saltney. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Saltney - 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.

What are your top tips when it comes to choosing a Saltney conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Saltney conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Saltney conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

  • Can they put you in touch with client in Saltney who can give a testimonial?
  • What are the charges for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Saltney from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Saltney can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Saltney charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Saltney.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Saltney leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer first.
  • Some Saltney leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet 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 ahead of 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 present the dispute as over rather than unsettled.

    • If all goes to plan we aim to complete the disposal of our £275000 maisonette in Saltney next Thursday . The management company has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Saltney?

    Saltney conveyancing on leasehold maisonettes normally involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.

    When it comes to leasehold conveyancing in Saltney what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Saltney. All leases is drafted differently and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

    I invested in buying a leasehold flat in Saltney, conveyancing having been completed 8 years ago. How much will my lease extension cost? Equivalent properties in Saltney with a long lease are worth £213,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 2087

    With just 63 years left to run the likely cost is going to be between £19,000 and £22,000 as well as costs.

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

    Other Topics

    Lease Extensions in Saltney