Fixed-fee leasehold conveyancing in Tyldesley:

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Sample questions relating to Tyldesley leasehold conveyancing

Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Tyldesley. I am keen to extend my lease but my freeholder is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Tyldesley.

Due to exchange soon on a basement flat in Tyldesley. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

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

  • You should receive a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Tyldesley please ask your conveyancer in advance of your conveyancing in Tyldesley

    • 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 delay in leasehold conveyancing in Tyldesley can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Tyldesley state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you dont have the consents in place do not communicate with the landlord without checking with your solicitor before hand.
  • A minority of Tyldesley 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 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 maisonette in Tyldesley next Thursday . The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Tyldesley?

    Tyldesley conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to assist. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    Are there frequently found deficiencies that you encounter in leases for Tyldesley properties?

    There is nothing unique about leasehold conveyancing in Tyldesley. Most leases is drafted differently and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

    I am the registered owner of a garden flat in Tyldesley, conveyancing was carried out 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Tyldesley with over 90 years remaining are worth £228,000. The ground rent is £45 levied per year. The lease expires on 21st October 2090

    With 65 years left to run we estimate the price of your lease extension to span between £13,300 and £15,400 plus legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Tyldesley