Planning to exchange soon on a basement flat in Wythenshawe. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Wythenshawe should include some of the following:

• The physical extent of the demise. This will be the flat itself but may incorporate a loft or cellar if appropriate.

I have just appointed agents to market my ground floor flat in Wythenshawe.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 management companies will not acknowledge the buyer unless 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've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Wythenshawe. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Wythenshawe ?

Most houses in Wythenshawe are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Wythenshawe in which case you should be looking for a Wythenshawe conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.

I am employed by a busy estate agent office in Wythenshawe where we have witnessed a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Wythenshawe conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 sit tight for 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 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 buyer.

What makes a Wythenshawe lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Wythenshawe. All leases is drafted differently and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• 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 could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Mortgage Works, and Alliance & Leicester all have express 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, obliging the purchaser to withdraw.

I bought a 1 bedroom flat in Wythenshawe, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Wythenshawe with a long lease are worth £250,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2104

You have 79 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Wythenshawe