I am on look out for some leasehold conveyancing in Atherton. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Atherton - then the leasehold title will always include the basic details 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.

I would like to let out my leasehold apartment in Atherton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your previous Atherton conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission from your landlord or some other party before subletting. This means that you cannot sublet in the absence of prior permission. The consent is not allowed to be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Atherton. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Atherton ?

The majority of houses in Atherton are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Atherton so you should seriously consider shopping around for a Atherton conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a two flats in Atherton both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Atherton. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475000 apartment in Atherton on Monday in a week. The landlords agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Atherton?

Atherton conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to assist. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.

I acquired a basement flat in Atherton, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Corresponding properties in Atherton with an extended lease are worth £174,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2086

You have 60 years unexpired the likely cost is going to range between £20,900 and £24,200 as well as costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Atherton