Due to sign contracts shortly on a garden flat in Mossley. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

• Defining your legal entitlements in respect of the communal areas in the block.E.G., does the lease contain a right of way over a path or staircase?

I have just started marketing my garden flat in Mossley.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you 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 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've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Mossley. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in Mossley are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Mossley in which case you should be shopping around for a Mossley conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. 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’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

I am a negotiator for a reputable estate agency in Mossley where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Mossley conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension process 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. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 buyer.

What makes a Mossley lease problematic?

There is nothing unique about leasehold conveyancing in Mossley. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. 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 premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Alliance & Leicester 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 defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I inherited a leasehold flat in Mossley, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Mossley with over 90 years remaining are worth £169,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2078

You have 54 years remaining on your lease we estimate the premium for your lease extension to be between £29,500 and £34,000 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 without more detailed 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 considered and clearly you want to 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 Mossley