I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Bacup. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Bacup ?

Most houses in Bacup are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Bacup so you should seriously consider looking for a Bacup conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold flat in Bacup. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Bacup who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Bacup conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold flat in Bacup. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Bacup with the purpose of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Bacup can be bypassed where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Bacup state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you fail to have the paperwork in place you should not communicate with the landlord without checking with your solicitor first.
• A minority of Bacup leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you hold a share in a the freehold, you should make sure that you are holding the original share document. Obtaining a duplicate share certificate is often a lengthy process and slows down many a Bacup conveyancing transaction. If a new share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

We expect to complete the disposal of our £ 325000 maisonette in Bacup on Thursday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Bacup?

Bacup conveyancing on leasehold flats normally involves administration charges levied by freeholders :

• Completing pre-exchange questions
• Where consent is required before sale in Bacup
• Supplying insurance information
• 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 Bacup leasehold premises is £350. For Bacup 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 obliged to provide the information.

I am the registered owner of a studio flat in Bacup, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar flats in Bacup with a long lease are worth £203,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2097

With 71 years remaining on your lease the likely cost is going to span between £10,500 and £12,000 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.