Fixed-fee leasehold conveyancing in Wigan:

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Questions and Answers: Wigan leasehold conveyancing

Planning to exchange soon on a garden flat in Wigan. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Setting out your rights in respect of common areas in the block.E.G., does the lease permit a right of way over an accessway or hallways?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • 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 contained in your report on your leasehold property in Wigan please ask your conveyancer in advance of your conveyancing in Wigan

    • I am a negotiator for a long established estate agent office in Wigan where we have witnessed a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Wigan conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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 purchaser.

    What advice can you give us when it comes to appointing a Wigan conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Wigan conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Wigan conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • How experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any top tips for leasehold conveyancing in Wigan from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Wigan can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
    • Many freeholders or Management Companies in Wigan levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Wigan.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Wigan state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such works. Should you fail to have the paperwork in place you should not contact the landlord without contacting your solicitor in advance.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Organising a duplicate share certificate is often a time consuming process and frustrates many a Wigan home move. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Are there common deficiencies that you encounter in leases for Wigan properties?

    There is nothing unique about leasehold conveyancing in Wigan. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and TSB 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 does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I invested in buying a garden flat in Wigan, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent properties in Wigan with over 90 years remaining are worth £176,000. The ground rent is £60 invoiced every year. The lease runs out on 21st October 2081

    With 57 years unexpired we estimate the price of your lease extension to be between £22,800 and £26,400 plus costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Wigan