Having had my offer accepted I require leasehold conveyancing in Woodley. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Woodley - 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.

I have just started marketing my 2 bed apartment in Woodley.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – Do I pay up?

It best that you 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Woodley. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Woodley ?

The majority of houses in Woodley are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Woodley in which case you should be shopping around for a Woodley conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

Can you offer any advice when it comes to choosing a Woodley conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Woodley conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Woodley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• If the firm is not ALEP accredited then why not?

In relation to leasehold conveyancing in Woodley what are the most common lease problems?

Leasehold conveyancing in Woodley is not unique. All leases are individual and drafting errors can result in certain clauses are erroneous. 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 property
• Insurance obligations
• 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 may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Mortgage Works, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

I bought a ground floor flat in Woodley, conveyancing formalities finalised in 1997. How much will my lease extension cost? Similar flats in Woodley with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £60 per annum. The lease expires on 21st October 2075

With 51 years remaining on your lease we estimate the premium for your lease extension to span between £38,000 and £44,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

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Lease Extensions in Woodley