Leasehold Conveyancing in Sefton - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Sefton

I am on look out for some leasehold conveyancing in Sefton. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Sefton - 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 have just appointed agents to market my 2 bed flat in Sefton.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of maisonettes in Sefton which have in the region of 50 years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Sefton. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Sefton from the perspective of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Sefton can be reduced if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers representatives.
  • The majority landlords or Management Companies in Sefton charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Sefton.
  • A minority of Sefton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Organising a duplicate share certificate can be a lengthy process and slows down many a Sefton home move. Where a duplicate share is needed, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

    • Completion in due on the sale of our £175000 flat in Sefton next Friday . The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Sefton?

    Sefton conveyancing on leasehold flats usually necessitates the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to do so. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to sell the property.

    Leasehold Conveyancing in Sefton - Examples of Queries before Purchasing

      What is the annual maintenance fee and ground rent? This information is useful as a) areas can result in problems for the block as the communal areas may start to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the running of the building you will want to know about it In the main the outlay for major works tend not to be built into the maintenance charges, although a few managing agents in Sefton obliged leasehold owners to pay into a sinking fund and this is used to offset against major works.

    Other Topics

    Lease Extensions in Sefton