Due to complete next month on a studio apartment in Whaley Bridge. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Whaley Bridge 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

Defining your legal entitlements in relation to the communal areas in the building.For example, does the lease permit a right of way over an accessway or staircase?

Are you allowed to have a pet in the flat?

Whether the lease restricts you from subletting the flat, or working from home

Ground rent - how much and when you need to pay, and also know whether this will change in the future

Changes to the flat (alterations and additions)

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. For details of the information to be included in your report on your leasehold property in Whaley Bridge please ask your lawyer in ahead 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 found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Whaley Bridge. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Whaley Bridge are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Whaley Bridge in which case you should be shopping around for a Whaley Bridge conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

Can you provide any advice for leasehold conveyancing in Whaley Bridge with the aim of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Whaley Bridge can be avoided if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
• If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Whaley Bridge state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the paperwork to hand do not contact the landlord without contacting your lawyer before hand.

A minority of Whaley Bridge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 purchasers or their solicitors.

If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay 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 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 better to reveal the dispute as over as opposed to unresolved.

You believe that you know the number of years left on your lease but it would be wise to verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

We expect to complete the sale of our £425000 garden flat in Whaley Bridge in just under a week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Whaley Bridge?

For the majority of leasehold sales in Whaley Bridge conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange questions
• Where consent is required before sale in Whaley Bridge
• 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 Whaley Bridge leasehold property is £350. For Whaley Bridge 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 obliged to provide the information.

When it comes to leasehold conveyancing in Whaley Bridge what are the most common lease problems?

Leasehold conveyancing in Whaley Bridge is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• 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 issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Skipton Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I acquired a basement flat in Whaley Bridge, conveyancing formalities finalised in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Whaley Bridge with over 90 years remaining are worth £188,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2101

With 76 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Whaley Bridge