I am on look out for some leasehold conveyancing in Barnoldswick. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Barnoldswick - 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.

Jane (my partner) and I may need to let out our Barnoldswick garden flat for a while due to a new job. We instructed a Barnoldswick conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Barnoldswick do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Barnoldswick. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Barnoldswick are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Barnoldswick so you should seriously consider shopping around for a Barnoldswick conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

I am tempted by the attractive purchase price for a couple of maisonettes in Barnoldswick both have approximately fifty years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Barnoldswick is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less marketable. 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 premises 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 Barnoldswick conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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've recently bought a leasehold property in Barnoldswick. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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).

I am the registered owner of a basement flat in Barnoldswick, conveyancing formalities finalised in 1997. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Barnoldswick with an extended lease are worth £222,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2092

With just 67 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

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Lease Extensions in Barnoldswick