I am on look out for some leasehold conveyancing in Bootle. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Bootle - 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.

Back In 2002, I bought a leasehold flat in Bootle. Conveyancing and National Westminster Bank mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Bootle who previously acted has now retired.What should I do?

First make enquiries of the Land Registry to be 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 Bootle conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Bootle which have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Bootle is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most buyers and banks, leases with under 75 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 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 Bootle conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 choosing a Bootle conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Bootle conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Bootle conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

• If the firm is not ALEP accredited then why not?

Completion in due on the sale of our £325000 flat in Bootle on Monday in a week. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bootle?

Bootle conveyancing on leasehold flats often involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.

Bootle Leasehold Conveyancing - A selection of Queries before Purchasing

Many Bootle leasehold properties will have a service bill for maintenance of the building invoiced on behalf of the freeholder. Where you buy the property you will have to pay this contribution, normally in instalments accross the year. This may vary from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent to be met annual, normally this is not a large amount, say approximately £50-£100 but you should to enquire as occasionally it can be many hundreds of pounds. Best to be warned whether changing the roof or some other significant cost is pending that will be shared amongst the tenants and may well dramatically impact the level of the service fees or result in a specific payment. How many of the leaseholders are in arrears for their maintenance charge payments?

Other Topics

Lease Extensions in Bootle