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Frequently asked questions relating to Shard End leasehold conveyancing

I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Shard End. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Shard End ?

The majority of houses in Shard End are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Shard End so you should seriously consider looking for a Shard End conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

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

In a situation 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

I am a negotiator for a long established estate agency in Shard End where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Shard End conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Shard End with the aim of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Shard End can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • Many landlords or Management Companies in Shard End levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Shard End.
  • A minority of Shard End leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a time consuming formality and delays many a Shard End conveyancing deal. If a duplicate share certificate is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

    • We expect to complete the disposal of our £300000 maisonette in Shard End in 8 days. The freeholder has quoted £420 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Shard End?

    Shard End conveyancing on leasehold apartments usually involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    Shard End Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

      Plenty Shard End leasehold apartments will be liable to pay a service charge for maintenance of the building set by the management company. Should you purchase the apartment you will have to pay this charge, normally periodically throughout the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay annual, this is usually not a large figure, say approximately £25-£75 but you need to enquire as occasionally it can be prohibitively expensive. Is the freehold owned jointly by the tenants? Does the lease have in excess of 90 years unexpired?

    Other Topics

    Lease Extensions in Shard End