Fixed-fee leasehold conveyancing in Cheetham Hill:

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Top Five Questions relating to Cheetham Hill leasehold conveyancing

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Cheetham Hill. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Cheetham Hill 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 apparent that you are buying in Cheetham Hill in which case you should be shopping around for a Cheetham Hill conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold flat in Cheetham Hill. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part 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).

Do you have any advice for leasehold conveyancing in Cheetham Hill with the intention of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Cheetham Hill can be bypassed where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Cheetham Hill state that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such alterations. Where you dont have the paperwork in place do not contact the landlord without checking with your solicitor before hand.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a lengthy formality and frustrates many a Cheetham Hill conveyancing transaction. If a new share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 maisonette in Cheetham Hill in nine days. The landlords agents has quoted £336 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cheetham Hill?

    Cheetham Hill conveyancing on leasehold flats normally involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    What makes a Cheetham Hill lease problematic?

    There is nothing unique about leasehold conveyancing in Cheetham Hill. Most leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • 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. Halifax, Leeds Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

    I invested in buying a 1st floor flat in Cheetham Hill, conveyancing formalities finalised 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Cheetham Hill with a long lease are worth £190,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2103

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

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should 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 Cheetham Hill