Fixed-fee leasehold conveyancing in Southport:

Whether you are buying or selling leasehold flat in Southport, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Southport conveyancing lawyer with our search tool

Southport leasehold conveyancing Example Support Desk Enquiries

I’m about to sell my 2 bed apartment in Southport.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Southport. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Southport ?

The majority of 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 help the conveyancing process. We note that you are buying in Southport in which case you should be shopping around for a Southport conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Southport both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Southport is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers 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 property 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 premises 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 Southport conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

What are your top tips when it comes to choosing a Southport conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Southport conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Southport 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:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Southport who can give a testimonial?

  • All being well we will complete the disposal of our £150000 apartment in Southport next Monday . The management company has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee 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 :

    • Addressing 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 required to provide the information.

    Southport Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

      Be sure to find out if there is anything that is prohibited in the lease. For instance some leases prohibit pets being permitted in in a block in Southport. If you like the flatin Southport but your cat is not allowed to make the move with you then you will be faced hard choice. What is the name of the managing agents? How many years remain on the lease?

    Other Topics

    Lease Extensions in Southport