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When it comes to leasehold conveyancing in Stockport, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Bradford & Bingley make sure you choose a lawyer on their approved list. Find a Stockport conveyancing lawyer with our search tool

Sample questions relating to Stockport leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Stockport. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Stockport - 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.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Stockport. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Stockport ?

Most houses in Stockport are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Stockport in which case you should be looking for a Stockport conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold property in Stockport. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to choosing a Stockport conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Stockport conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Stockport conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Stockport with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Stockport can be reduced where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
    • A minority of Stockport leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Organising a duplicate share certificate is often a lengthy process and frustrates many a Stockport home move. If a new share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Leasehold Conveyancing in Stockport - Examples of Questions you should ask Prior to buying

      You should want to discover as much as possible regarding the company managing the building as they will either make your living at the property much easier or a lot more difficult. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the common parts. Enquire of other tenants whether they are happy with them. In conclusion, be sure you understand the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants benefit from control and notwithstanding that a managing agent is frequently retained if it is bigger than a house conversion, the managing agent retained by the leaseholders. How long is the Lease?

    Other Topics

    Lease Extensions in Stockport