Fixed-fee leasehold conveyancing in Whaley Bridge:

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Whaley Bridge, 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 Whaley Bridge leasehold conveyancing

I am hoping to sign contracts shortly on a basement flat in Whaley Bridge. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Whaley Bridge should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the apartment itself but could also include a roof space or cellar if applicable.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You need to be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Whaley Bridge please ask your conveyancer in advance of your conveyancing in Whaley Bridge

    • I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Whaley Bridge. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

    Most houses in Whaley Bridge are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Whaley Bridge in which case you should be shopping around for a Whaley Bridge conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

    Back In 2002, I bought a leasehold flat in Whaley Bridge. Conveyancing and Bank of Ireland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Whaley Bridge who acted for me is not around.Do I pay?

    First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Whaley Bridge conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am looking at a couple of apartments in Whaley Bridge which have in the region of 50 years remaining on the leases. Will this present a problem?

    A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

    I work for a reputable estate agent office in Whaley Bridge where we have witnessed a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Whaley Bridge conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    I purchased a garden flat in Whaley Bridge, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Whaley Bridge with over 90 years remaining are worth £238,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2078

    With 56 years remaining on your lease we estimate the premium for your lease extension to range between £26,600 and £30,800 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 provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Whaley Bridge