Having had my offer accepted I require leasehold conveyancing in Sandbach. Before diving in I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Sandbach - 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’m about to sell my basement flat in Sandbach.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

It best that you 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 unless 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 am attracted to a two maisonettes in Sandbach which have about 50 years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Sandbach is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat 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 property 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 Sandbach conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 the agreed 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.

Can you offer any advice when it comes to appointing a Sandbach conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Sandbach conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Sandbach 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 helpful:

• Can they put you in touch with client in Sandbach who can give a testimonial?

Can you provide any advice for leasehold conveyancing in Sandbach with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Sandbach can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
• A minority of Sandbach leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.

I acquired a leasehold flat in Sandbach, conveyancing was carried out in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Sandbach with over 90 years remaining are worth £221,000. The ground rent is £45 per annum. The lease ceases on 21st October 2090

You have 64 years left to run we estimate the premium for your lease extension to span between £14,300 and £16,400 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

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Lease Extensions in Sandbach