I am in need of some leasehold conveyancing in Stalybridge. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Stalybridge - 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.

Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Stalybridge. I am keen to get lease extension but my landlord is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the lessor. On the whole an enquiry agent may be useful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Stalybridge.

I am attracted to a couple of apartments in Stalybridge which have about fifty years unexpired on the leases. should I be concerned?

There are plenty of short leases in Stalybridge. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Stalybridge with the aim of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Stalybridge can be reduced if you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Stalybridge state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you fail to have the consents to hand do not contact the landlord without checking with your solicitor in the first instance.
• Some Stalybridge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Organising a duplicate share certificate can be a lengthy formality and frustrates many a Stalybridge home move. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

What makes a Stalybridge lease problematic?

Leasehold conveyancing in Stalybridge is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

Leasehold Conveyancing in Stalybridge - Sample of Questions you should consider before buying

How many of the leaseholders are in arrears for their maintenance charge payments? How much is the maintenance charge and ground rent on the flat?