Leasehold Conveyancing in Walkden - Get a Quote from the leasehold experts approved by your lender

Any conveyancing practice can theoretically handle your leasehold conveyancing in Walkden, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Walkden leasehold conveyancing

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Walkden. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Walkden are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Walkden so you should seriously consider shopping around for a Walkden conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.

I own a leasehold house in Walkden. Conveyancing and TSB mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Walkden who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Walkden conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Walkden. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

What are your top tips when it comes to finding a Walkden conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Walkden conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Walkden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the practice with lease extension legislation?
  • What are the legal fees for lease extension work?

  • We expect to complete the disposal of our £400000 maisonette in Walkden in just under a week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Walkden?

    Walkden conveyancing on leasehold maisonettes normally involves the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information 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 summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to complete the sale of your home.

    I am the registered owner of a split level flat in Walkden, conveyancing having been completed in 2006. 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 Walkden with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2078

    You have 53 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 as well as professional fees.

    The figure 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. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

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    Lease Extensions in Walkden