Having had my offer accepted I require leasehold conveyancing in Bolton. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Bolton - 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 only have 68 years remaining on my flat in Bolton. I now wish to extend my lease but my landlord 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the lessor. For most situations an enquiry agent should be useful to carry out a search and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Bolton.

Planning to complete next month on a ground floor flat in Bolton. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Bolton should include some of the following:

• The physical extent of the premises. This will be the flat itself but might incorporate a roof space or basement if applicable.
• Does the lease prevent you from subletting the flat, or having a home office for business
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• What options are open to you if a neighbour breach a clause of their lease?

I am attracted to a two flats in Bolton both have in the region of 50 years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Bolton is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. 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 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 Bolton 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 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 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.

Do you have any top tips for leasehold conveyancing in Bolton with the aim of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Bolton can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
• Many freeholders or Management Companies in Bolton charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Bolton.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Bolton state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you dont have the approvals in place do not contact the landlord without contacting your lawyer before hand.
• Some Bolton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents 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 buyers or their lawyers.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and frustrates many a Bolton home move. Where a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

Bolton Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing