Having had my offer accepted I require leasehold conveyancing in Walkden. Before diving in I would like to find out the remaining lease term.

If the lease is registered - and 99.9% are in Walkden - 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've found a house that seems to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Walkden. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Walkden ?

Most houses in Walkden are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Walkden so you should seriously consider shopping around for a Walkden conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

Can you offer any advice when it comes to choosing a Walkden conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Walkden conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Walkden 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 useful:

• How experienced is the practice with lease extension legislation?

Can they put you in touch with client in Walkden who can give a testimonial?

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

• Much of the delay in leasehold conveyancing in Walkden can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
• Many freeholders or managing agents in Walkden charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Walkden.

In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Walkden leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you dont have the consents to hand do not communicate with the landlord without checking with your conveyancer in advance.

If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to ongoing.

If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Arranging a new share certificate is often a time consuming formality and delays many a Walkden home move. If a reissued share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

We expect to complete the sale of our £500000 flat in Walkden next week. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Walkden?

Walkden conveyancing on leasehold maisonettes typically necessitates fees being levied by management companies :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Walkden
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Walkden leasehold premises is £350. For Walkden conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Walkden Leasehold Conveyancing - Sample of Queries before buying

In the main the outlay for major works are not included within maintenance charges, albeit that a few managing agents in Walkden require tenants to pay into a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance. Are any of leasehold owners in arrears of their service charge liability? What is the the remaining lease term?

Other Topics

Lease Extensions in Walkden