Quality lawyers for Leasehold Conveyancing in Wigan

Any conveyancing practice can theoretically handle your leasehold conveyancing in Wigan, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Wigan leasehold conveyancing

I am on look out for some leasehold conveyancing in Wigan. Before diving in I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Wigan - 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 have just started marketing my 2 bed apartment in Wigan.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of apartments in Wigan both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to finding a Wigan conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Wigan conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Wigan conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

  • Can they put you in touch with client in Wigan who can give a testimonial?
  • What are the costs for lease extension conveyancing?

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

    There is nothing unique about leasehold conveyancing in Wigan. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. 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
    • 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

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Bank of Scotland, and Godiva Mortgages Ltd all have express 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 defective they may refuse to provide security, forcing the purchaser to withdraw.

    I own a 2 bed flat in Wigan, conveyancing was carried out in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Wigan with an extended lease are worth £251,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2100

    You have 76 years left to run we estimate the price of your lease extension to range between £11,400 and £13,200 plus professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you 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 are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Wigan