I am in need of some leasehold conveyancing in Bolton. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Bolton - then the leasehold title will always include the short particulars 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.

Estate agents have just been given the go-ahead to market my ground floor flat in Bolton.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge 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 managing agents 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've recently bought a leasehold house in Bolton. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Completion in due on the disposal of our £250000 flat in Bolton next week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Bolton?

Bolton conveyancing on leasehold maisonettes normally results in administration charges levied by landlords agents :

• Completing conveyancing due diligence questions
• 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

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Bolton leasehold premises is £350. For Bolton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

What makes a Bolton lease unacceptable for security purposes?

Leasehold conveyancing in Bolton is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

Bolton Leasehold Conveyancing - Examples of Queries before Purchasing

Be sure to investigate if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Bolton. If you like the propertyin Bolton however your dog is not allowed to make the move with you then you have a very difficult compromise. Is anyone aware of any major works in the near future that could increase the service charges? Where a Bolton lease has fewer than 80 years it will affect the value of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would need to own the premises for two years before you are legally able to carry out a lease extension.

Other Topics

Lease Extensions in Bolton