Leasehold Conveyancing in Wilmslow - Get a Quote from the leasehold experts approved by your lender

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

Sample questions relating to Wilmslow leasehold conveyancing

I am hoping to sign contracts shortly on a basement flat in Wilmslow. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Wilmslow please enquire of your solicitor in ahead of your conveyancing in Wilmslow

    • Last month I purchased a leasehold house in Wilmslow. Do I have any liability for service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I am employed by a busy estate agency in Wilmslow where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Wilmslow conveyancing firms. Can you shed some light as to whether the seller 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. This means that the buyer can avoid having to wait 2 years for a lease extension. 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 sale.

    Alternatively, it may be possible 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.

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

    When appointing a conveyancer for lease extension works (regardless if they are a Wilmslow conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Wilmslow conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

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

    • Can you provide any advice for leasehold conveyancing in Wilmslow with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Wilmslow can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Wilmslow leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such alterations. Should you dont have the approvals in place you should not contact the landlord without checking with your lawyer first.
  • A minority of Wilmslow leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming process and delays many a Wilmslow conveyancing deal. If a new share is needed, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • I purchased a basement flat in Wilmslow, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Wilmslow with a long lease are worth £191,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2102

    With just 78 years left to run the likely cost is going to span between £8,600 and £9,800 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. 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 clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Wilmslow