I only have 62 years remaining on my lease in Stalybridge. I need to get lease extension but my landlord is absent. What options are available to me?

If 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 enable the lease to be extended by the Court. You will be obliged to prove that you have done all that could be expected to locate the freeholder. On the whole an enquiry agent should be useful to carry out a search and prepare an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Stalybridge.

I am hoping to complete next month on a basement flat in Stalybridge. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Stalybridge should include some of the following:

• Defining your legal entitlements in relation to common areas in the block.E.G., does the lease provide for a right of way over an accessway or hallways?
• Do you need to have carpet in the flat or are you allowed wood flooring?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Repair and maintenance of the flat
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• What the implications are if you breach a clause of your lease?

I am tempted by the attractive purchase price for a two flats in Stalybridge which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

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 results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to finding a Stalybridge conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Stalybridge conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Stalybridge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How many lease extensions have they conducted in Stalybridge in the last year?
• Can they put you in touch with client in Stalybridge who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Stalybridge from the point of view of expediting the sale process?

• Much of the delay in leasehold conveyancing in Stalybridge can be avoided if you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers lawyers.
• Many landlords or managing agents in Stalybridge charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Stalybridge.
• Some Stalybridge leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 actual amount of the service charge 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 very important that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 better to present the dispute as historic rather than unsettled.
• If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Organising a duplicate share certificate can be a lengthy formality and delays many a Stalybridge conveyancing deal. If a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

Leasehold Conveyancing in Stalybridge - Examples of Questions you should consider Prior to buying

Most Stalybridge leasehold apartments will be liable to pay a service charge for the upkeep of the building set on behalf of the freeholder. If you purchase the flat you will have to pay this charge, usually quarterly throughout the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent to be met yearly, this is usually not a significant figure, say about £50-£100 but you need to enquire it because sometimes it can be prohibitively expensive. What is the name of the managing agents? The prefered form of lease arrangement is a share of the freehold. In this situation the tenants benefit from being in charge if their destiny and although a managing agent is frequently employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.