Fixed-fee leasehold conveyancing in Tyldesley:

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Tyldesley leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Tyldesley. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Tyldesley - 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.

There are only 62 years left on my flat in Tyldesley. I need to get lease extension but my freeholder is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission 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 done all that could be expected to locate the freeholder. For most situations a specialist may be helpful to carry out a search and to produce an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Tyldesley.

I am looking at a couple of maisonettes in Tyldesley which have approximately fifty years left on the leases. should I be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

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

In a situation 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. However, 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).

Do you have any advice for leasehold conveyancing in Tyldesley with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Tyldesley can be avoided if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Tyldesley leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord approving such works. Should you fail to have the approvals in place do not contact the landlord without checking with your conveyancer in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve 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 details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Tyldesley home move. Where a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • I own a basement flat in Tyldesley, conveyancing having been completed 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Tyldesley with an extended lease are worth £232,000. The ground rent is £60 invoiced annually. The lease finishes on 21st October 2103

    You have 78 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Tyldesley