Recently asked questions relating to Westhoughton leasehold conveyancing
I am hoping to complete next month on a garden flat in Westhoughton. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Westhoughton should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- Are you allowed to have a pet in the flat?
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
I have just appointed agents to market my ground floor flat in Westhoughton.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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.
I own a leasehold house in Westhoughton. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Westhoughton who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Westhoughton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Do you have any top tips for leasehold conveyancing in Westhoughton with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Westhoughton can be bypassed if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
- The majority landlords or Management Companies in Westhoughton charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Westhoughton.
- If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to 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 ahead of 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 better to present the dispute as over rather than unresolved.
- If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming formality and slows down many a Westhoughton home move. Where a duplicate share is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
- You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 400000 maisonette in Westhoughton on Tuesday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Westhoughton?
Westhoughton conveyancing on leasehold flats usually requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I inherited a garden flat in Westhoughton, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Westhoughton with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2081
With just 55 years unexpired we estimate the premium for your lease extension to be between £33,300 and £38,400 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.