I want to sublet my leasehold flat in Bollington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your last Bollington conveyancing solicitor is not available you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior permission. The consent is not allowed to be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I only have Seventy years unexpired on my lease in Bollington. I am keen to get lease extension but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the landlord. For most situations a specialist would be useful to try and locate and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court covering Bollington.

I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Bollington. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Bollington are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Bollington so you should seriously consider shopping around for a Bollington conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of maisonettes in Bollington which have in the region of 50 years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Bollington is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. For most 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 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 Bollington 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Can you offer any advice when it comes to appointing a Bollington conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Bollington conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Bollington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• Can they put you in touch with client in Bollington who can give a testimonial?
• What are the legal fees for lease extension conveyancing?

I invested in buying a ground floor flat in Bollington, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Bollington with over 90 years remaining are worth £196,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2097

With only 71 years left to run the likely cost is going to range between £9,500 and £11,000 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.