Fixed-fee leasehold conveyancing in Tyldesley:

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Tyldesley leasehold conveyancing: Q and A’s

Looking forward to exchange soon on a leasehold property in Tyldesley. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Tyldesley should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the premises. This will be the apartment itself but may incorporate a roof space or cellar if applicable.
  • Will you be prohibited or prevented from having pets in the property?
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Tyldesley please ask your lawyer in advance of your conveyancing in Tyldesley

    • Estate agents have just been given the go-ahead to market my garden flat in Tyldesley.Conveyancing is yet to be initiated but I have just received a 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.

    My wife and I purchased a leasehold house in Tyldesley. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Tyldesley who previously acted has long since retired.Any advice?

    The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Tyldesley conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    What advice can you give us when it comes to finding a Tyldesley conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Tyldesley 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 talk with several firms including non Tyldesley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • If the firm is not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Tyldesley with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Tyldesley can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
    • The majority landlords or managing agents in Tyldesley levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to 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 receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Tyldesley.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to 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 clearly preferable to present 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. Arranging a new share certificate is often a lengthy formality and slows down many a Tyldesley conveyancing deal. If a duplicate share certificate is required, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I invested in buying a 2 bed flat in Tyldesley, conveyancing was carried out half a dozen years ago. 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 properties in Tyldesley with over 90 years remaining are worth £222,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2096

    With just 71 years unexpired the likely cost is going to span between £10,500 and £12,000 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Tyldesley