Bolton leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Bolton. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most 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.
My husband and I may need to sub-let our Bolton ground floor flat temporarily due to a career opportunity. We used a Bolton conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Bolton do contain a provision to say that subletting is only allowed with permission. 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 permission.
Expecting to exchange soon on a leasehold property in Bolton. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bolton should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold flat in Bolton. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Bolton who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Bolton conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £250000 garden flat in Bolton in 8 days. The freeholder has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bolton?
Bolton conveyancing on leasehold maisonettes typically results in fees being raised by managing agents :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Bolton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Bolton Leasehold Conveyancing - A selection of Queries before Purchasing
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Plenty Bolton leasehold apartments will be liable to pay a service bill for maintenance of the block set by the freeholder. If you buy the flat you will have to pay this charge, normally in instalments throughout the year. This could be anything from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met yearly, this is usually not a exorbitant figure, say around £25-£75 but you should to check as occasionally it can be prohibitively expensive.
Its a good idea to discover as much as possible concerning the company managing the block as they can either make living at the property much simpler or a lot more difficult. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the upkeep of the communal areas. Enquire of other tenants what they think of them. Finally, investigate as to the dates that the service charges are due to the relevant party and specifically what it includes.
This information is helpful as a) areas could result in problems for the building as the common areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have full disclosure
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