Leasehold Conveyancing in Stockport - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Stockport, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their panel. Find a Stockport conveyancing lawyer with our search tool

Questions and Answers: Stockport leasehold conveyancing

I’m about to sell my 2 bed flat in Stockport.Conveyancing solicitors are to be appointed soon 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 pay 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2004, I bought a leasehold flat in Stockport. Conveyancing and Alliance & Leicester mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Stockport who previously acted has long since retired.What should I do?

First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Stockport conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Stockport both have about fifty years remaining on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £500000 garden flat in Stockport on Wednesday in a week. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stockport?

Stockport conveyancing on leasehold flats usually involves fees being invoiced by management companies :

  • Answering conveyancing due diligence questions
  • Where consent is required before sale in Stockport
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Stockport leasehold property is £350. For Stockport 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 supply answers.

What makes a Stockport lease unmortgageable?

There is nothing unique about leasehold conveyancing in Stockport. Most leases are individual and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain elements of the premises
  • Insurance obligations
  • A provision for the recovery of money spent for the benefit of another party.
  • Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

Stockport Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

    How much is the ground rent and service charge? The answer will be important as a) areas could result in problems in the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have full disclosure Its a good idea to find out as much as you can concerning the company managing the block as they will either make life much simpler or uncomfortable. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to daily issues such as the upkeep of the communal areas. Don't be shy to ask prospective neighbours what they think of them. Finally, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending that money.

Other Topics

Lease Extensions in Stockport