Recently asked questions relating to Swinton leasehold conveyancing
I am in need of some leasehold conveyancing in Swinton. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Swinton - then the leasehold title will always include the short particulars 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 have just appointed agents to market my basement apartment in Swinton.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – Do I pay up?
It best that you clear 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. This will smooth the conveyancing process.
I am a negotiator for a long established estate agency in Swinton where we have witnessed a number of leasehold sales derailed due to short leases. I have been given contradictory information from local Swinton conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you offer any advice when it comes to choosing a Swinton conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Swinton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Swinton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Swinton with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Swinton can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
- A minority of Swinton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
Leasehold Conveyancing in Swinton - Sample of Queries Prior to buying
What is the annual service fee and ground rent?
Does the lease include onerous restrictions?
You will want to discover as much as you can regarding the managing agents as they can either make living at the property much easier or problematic. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to day to day issues such as the upkeep of the common parts. Ask prospective neighbours if they are happy with their management. Finally, be sure you know the dates that the service charges are due to the managing agents and precisely what you get for your money.