I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Wilmslow. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Wilmslow ?

Most houses in Wilmslow are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Wilmslow in which case you should be shopping around for a Wilmslow conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold house in Wilmslow. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Wilmslow who previously acted has now retired.What should I do?

First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Wilmslow conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two apartments in Wilmslow both have in the region of forty five years unexpired on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. 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 companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

I work for a long established estate agent office in Wilmslow where we see a few flat sales put at risk due to short leases. I have received inconsistent advice from local Wilmslow conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

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 are your top tips when it comes to appointing a Wilmslow conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Wilmslow conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Wilmslow 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 of use:

• How familiar is the practice with lease extension legislation?

Leasehold Conveyancing in Wilmslow - Sample of Questions you should consider before buying

How long is the Lease? It would be sensible to discover as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to day to day matters such as the cleanliness of the common parts. Ask other tenants what they think of them. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. Best to be warned if changing the roof or some other significant cost is due in the foreseeable future that will be shared amongst the tenants and will dramatically increase the the maintenance fees or require a one off invoice.

Other Topics

Lease Extensions in Wilmslow