Leasehold Conveyancing in Stalybridge - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Stalybridge, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Stalybridge leasehold conveyancing: Q and A’s

My partner and I may need to let out our Stalybridge ground floor flat for a while due to taking a sabbatical. We instructed a Stalybridge conveyancing practice in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Stalybridge conveyancing solicitor is no longer available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to seek consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I’m about to sell my 2 bed apartment in Stalybridge.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the invoice 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Stalybridge. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Stalybridge are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Stalybridge in which case you should be looking for a Stalybridge conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

Can you offer any advice when it comes to appointing a Stalybridge conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Stalybridge conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Stalybridge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Stalybridge who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Stalybridge with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Stalybridge can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
    • The majority landlords or Management Companies in Stalybridge levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. 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 Stalybridge.
  • Some Stalybridge leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a re-issued share certificate is often a time consuming process and slows down many a Stalybridge conveyancing transaction. If a new share is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • I bought a leasehold flat in Stalybridge, conveyancing formalities finalised 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Stalybridge with an extended lease are worth £169,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease runs out on 21st October 2095

    With just 70 years remaining on your lease the likely cost is going to span between £10,500 and £12,000 plus costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stalybridge