I am on look out for some leasehold conveyancing in Wallasey. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Wallasey - 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.

Back In 2006, I bought a leasehold flat in Wallasey. Conveyancing and Santander mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Wallasey who previously acted has now retired.Do I pay?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Wallasey conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a long established estate agent office in Wallasey where we have experienced a few flat sales derailed due to short leases. I have received conflicting advice from local Wallasey conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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 purchaser.

What advice can you give us when it comes to appointing a Wallasey conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Wallasey conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Wallasey conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

All being well we will complete the disposal of our £475000 apartment in Wallasey in 10 days. The managing agents has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Wallasey?

Wallasey conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.

Wallasey Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

How much is the annual maintenance fee and ground rent? If a Wallasey lease has fewer than 80 years it will impact the salability of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. For most Wallaseylease extensions you would need to own the property for a couple of years in order to be entitled to extend the lease. The best form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed if the building is larger than a house conversion, the managing agent employed by the leaseholders.

Other Topics

Lease Extensions in Wallasey