Questions and Answers: Warrington leasehold conveyancing
I am in need of some leasehold conveyancing in Warrington. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Warrington - 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 only have 62 years remaining on my flat in Warrington. I now want to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the landlord. In some cases an enquiry agent would be helpful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Warrington.
I am attracted to a couple of flats in Warrington which have approximately fifty years left on the leases. Do I need to be concerned?
A lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena
What advice can you give us when it comes to appointing a Warrington conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Warrington conveyancing firm) 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 make enquires with two or three firms including non Warrington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- Can they put you in touch with client in Warrington who can give a testimonial?
We expect to complete our sale of a £325000 maisonette in Warrington in seven days. The management company has quoted £300 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 flat conveyance in Warrington?
Warrington conveyancing on leasehold flats ordinarily results in fees being invoiced by managing agents :
- Completing pre-contract questions
- Where consent is required before sale in Warrington
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Warrington Conveyancing for Leasehold Flats - A selection of Queries before buying
The prefered form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this scenario the lessees enjoy control and notwithstanding that a managing agent is frequently employed where the building is larger than a house conversion, the managing agent employed by the leaseholders.
The majority of Warrington leasehold properties will be liable to pay a service charge for the upkeep of the building set on behalf of the landlord. If you purchase the flat you will have to pay this contribution, normally in instalments throughout the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent to be met yearly, this is usually not a exorbitant sum, say approximately £25-£75 but you need to check as on occasion it can be many hundreds of pounds.
Is there a share of the freehold?