Planning to exchange soon on a garden flat in Poynton. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years

Ground rent - how much and when you need to pay, and also know whether this is subject to change

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Poynton please ask your solicitor in advance of your conveyancing in Poynton

I am looking at a couple of flats in Poynton which have in the region of 50 years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Poynton is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most buyers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Poynton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any top tips for leasehold conveyancing in Poynton from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Poynton can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
• The majority freeholders or managing agents in Poynton levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Poynton.

In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Poynton state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the approvals to hand you should not contact the landlord without contacting your solicitor before hand.

Some Poynton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.

You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

All being well we will complete the disposal of our £325000 apartment in Poynton next week. The landlords agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Poynton?

Poynton conveyancing on leasehold apartments ordinarily involves fees being raised by freeholders :

• Addressing pre-contract enquiries
• Where consent is required before sale in Poynton
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Poynton leasehold premises is £350. For Poynton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

Are there common defects that you encounter in leases for Poynton properties?

There is nothing unique about leasehold conveyancing in Poynton. Most leases are individual and legal mistakes in the legal wording can result in certain sections 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
• 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 will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Poynton - Sample of Queries Prior to buying

Who are the managing agents? Does this lease have in excess of 85 years left? Does the lease include onerous restrictions?

Other Topics

Lease Extensions in Poynton