I am in need of some leasehold conveyancing in Southport. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Southport - then the leasehold title will always include the short particulars 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've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Southport. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Southport ?

Most houses in Southport are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Southport so you should seriously consider shopping around for a Southport conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Southport both have approximately 50 years remaining on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Southport from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Southport can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers representatives.
• Many landlords or Management Companies in Southport levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Southport.

In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Southport state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you fail to have the approvals to hand do not communicate with the landlord without checking with your conveyancer in the first instance.

If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and slows down many a Southport home move. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

All being well we will complete the sale of our £200000 flat in Southport in 10 days. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Southport?

For most leasehold sales in Southport conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract questions
• Where consent is required before sale in Southport
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Southport leasehold premises is £350. For Southport conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

Leasehold Conveyancing in Southport - Sample of Questions you should ask Prior to Purchasing

Be sure to discover if the the lease includes any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Southport. If you love the propertyin Southport but your cat can’t make the move with you then you will be presented with a difficult decision. If a Southport lease has fewer than eighty years it will impact the marketability of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you will need to own the premises for a couple of years before you are legally able to exercise a lease extension. Does the lease have in excess of 82 years remaining?

Other Topics

Lease Extensions in Southport