I am in need of some leasehold conveyancing in Heywood. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Heywood - then the leasehold title will always include the short particulars 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 appointed agents to market my basement apartment in Heywood.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Heywood. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Heywood are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Heywood in which case you should be shopping around for a Heywood conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I've recently bought a leasehold house in Heywood. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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 ensure 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).

What makes a Heywood lease problematic?

Leasehold conveyancing in Heywood is not unique. All leases is drafted differently and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• 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

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I bought a 1st floor flat in Heywood, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Heywood with an extended lease are worth £234,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2093

With just 68 years unexpired we estimate the premium for your lease extension to span between £14,300 and £16,400 plus 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 investigations. You should 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 clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Heywood