Expecting to exchange soon on a garden flat in Wigan. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

• The unexpired 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

I own a leasehold house in Wigan. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Wigan who previously acted has long since retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Wigan conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Wigan both have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Wigan is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 a residence 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 Wigan conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

Do you have any top tips for leasehold conveyancing in Wigan from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Wigan can be bypassed where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
• The majority landlords or Management Companies in Wigan levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Wigan.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 apartment in Wigan next week. The management company has quoted £372 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Wigan?

Wigan conveyancing on leasehold flats more often than not involves the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is above £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

I invested in buying a basement flat in Wigan, conveyancing having been completed 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Wigan with an extended lease are worth £230,000. The ground rent is £55 yearly. The lease terminates on 21st October 2078

With just 53 years remaining on your lease the likely cost is going to span between £37,100 and £42,800 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Wigan