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Frequently asked questions relating to Wilmslow leasehold conveyancing

I am in need of some leasehold conveyancing in Wilmslow. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and most are in Wilmslow - then the leasehold title will always include the basic details 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.

There are only Fifty years unexpired on my flat in Wilmslow. I now wish to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. On the whole an enquiry agent should be helpful to conduct investigations and to produce a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Wilmslow.

I am a negotiator for a busy estate agent office in Wilmslow where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Wilmslow conveyancing firms. Can you clarify whether the owner of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 choosing a Wilmslow conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Wilmslow conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Wilmslow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions has the firm conducted in Wilmslow in the last twenty four months?

    • Do you have any advice for leasehold conveyancing in Wilmslow from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Wilmslow can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
    • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Wilmslow state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. If you dont have the paperwork to hand you should not communicate with the landlord without contacting your solicitor in advance.
  • A minority of Wilmslow leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Wilmslow Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

      Best to be warned if changing the roof or some other significant cost is pending that will be shared between the leaseholders and will dramatically impact the level of the service fees or result in a specific payment. The majority of Wilmslow leasehold apartments will incur a service bill for maintenance of the building levied by the landlord. Should you purchase the apartment you will have to meet this liability, normally in instalments accross the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent for you to pay yearly, this is usually not a large amount, say about £25-£75 but you need to check it because on occasion it could be prohibitively expensive. Be sure to find out if there are any onerous restrictions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Wilmslow. If you love the propertyin Wilmslow yet your dog can’t make the move with you then you have a very hard compromise.

    Other Topics

    Lease Extensions in Wilmslow