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

If the lease is recorded at the land registry - and most are in Bardsley - 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 own a leasehold house in Bardsley. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Bardsley who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Bardsley conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note 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 tempted by the attractive purchase price for a two maisonettes in Bardsley which have in the region of forty five years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Bardsley 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 marketability of the property. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Bardsley 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.

I am employed by a long established estate agent office in Bardsley where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Bardsley conveyancing solicitors. Can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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.

Do you have any advice for leasehold conveyancing in Bardsley with the aim of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Bardsley can be bypassed where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Bardsley leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your lawyer in advance.
• If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 buyers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
• If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate can be a lengthy process and slows down many a Bardsley home move. If a new share certificate is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Bardsley Leasehold Conveyancing - A selection of Questions you should ask before buying

Make sure you enquire if there is anything that is prohibited in the lease. For example it is fairly common in Bardsley leases that pets are not allowed in in a block in Bardsley. If you love the flatin Bardsley but your dog is not allowed to move with you then you have a very difficult decision. How many of the leaseholders are in arrears for their service charge payments?