Guaranteed fixed fees for Leasehold Conveyancing in Bolton

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Bolton, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Bolton leasehold conveyancing

Due to exchange soon on a leasehold property in Bolton. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • You need to be told what counts as a Nuisance in the lease
  • 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
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Bolton please enquire of your conveyancer in advance of your conveyancing in Bolton

    • I’m about to sell my garden apartment in Bolton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – what should I do?

    The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

    I own a leasehold flat in Bolton. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Bolton who acted for me is not around.Any advice?

    First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Bolton conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I work for a long established estate agency in Bolton where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Bolton conveyancing solicitors. Can you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

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

    When appointing a solicitor for your lease extension (regardless if they are a Bolton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Bolton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How many lease extensions have they completed in Bolton in the last year?
  • What are the costs for lease extension conveyancing?

    • I purchased a ground floor flat in Bolton, conveyancing was carried out 2010. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Bolton with over 90 years remaining are worth £225,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease terminates on 21st October 2098

    With 74 years unexpired the likely cost is going to be between £11,400 and £13,200 as well as costs.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Bolton