Fixed-fee leasehold conveyancing in Bolton:

Whether you are buying or selling leasehold flat in Bolton, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Bolton conveyancing lawyer with our search tool

Common questions relating to Bolton leasehold conveyancing

There are only Sixty One years remaining on my lease in Bolton. I now wish to extend my lease but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. On the whole an enquiry agent would be helpful to conduct investigations and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Bolton.

Planning to sign contracts shortly on a basement flat in Bolton. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Setting out your rights in respect of common areas in the block.By way of example, does the lease provide for a right of way over an accessway or staircase?
  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be contained in your report on your leasehold property in Bolton please ask your conveyancer in advance of your conveyancing in Bolton

  • I am attracted to a two maisonettes in Bolton both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Bolton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. 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 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 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.

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

    When appointing a solicitor for lease extension works (regardless if they are a Bolton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Bolton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

    • If they are not ALEP accredited then what is the reason?
  • What are the charges for lease extension work?

  • Can you provide any top tips for leasehold conveyancing in Bolton from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Bolton can be reduced where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers representatives.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Bolton state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such changes. If you dont have the approvals to hand you should not communicate with the landlord without checking with your solicitor first.
  • 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 obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • Leasehold Conveyancing in Bolton - Examples of Queries Prior to buying

      What prohibitions are contained in the Bolton Lease? How much is the yearly service fee and ground rent? Many Bolton leasehold properties will have a service bill for the upkeep of the building invoiced by the management company. If you purchase the flat you will have to pay this contribution, normally periodically during the year. This may vary from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met yearly, ordinarily this is not a large amount, say about £25-£75 but you should to enquire it because sometimes it can be prohibitively expensive.

    Other Topics

    Lease Extensions in Bolton