Fixed-fee leasehold conveyancing in Wallasey:

Get a Quote

When it comes to leasehold conveyancing in Wallasey, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Halifax, Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their panel. Feel free to use our search tool

Recently asked questions relating to Wallasey leasehold conveyancing

I have just appointed agents to market my garden flat in Wallasey.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?

It best that you pay the service charge 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.

Last month I purchased a leasehold flat in Wallasey. 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).

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

If you are instructing a conveyancer for your lease extension (regardless if they are a Wallasey conveyancing practice) 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 two or three firms including non Wallasey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Wallasey who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Wallasey with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Wallasey can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or managing agents in Wallasey charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Wallasey.
  • Some Wallasey leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
  • You believe that you know the number of years left 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 to exchange contracts if the lease term is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • What are the common defects that you come across in leases for Wallasey properties?

    Leasehold conveyancing in Wallasey is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Wallasey Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

      It would be sensible to discover as much as possible concerning the company managing the building as they will either make life much simpler or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to practical matters like the upkeep of the communal areas. Don't be afraid to ask other tenants if they are happy with them. In conclusion, find out the dates that the maintenance charges are due to the appropriate party and precisely how they are spending that money. Are any of leasehold owners in dispute over their service charge payments? This information is helpful as a) areas can cause problems in the block as the communal areas may start to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have complete disclosure

    Other Topics

    Lease Extensions in Wallasey