I am intending to rent out my leasehold apartment in Denton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Denton conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or some other party before subletting. This means you not allowed to sublet without first obtaining permission. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.

Looking forward to sign contracts shortly on a leasehold property in Denton. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I have just appointed agents to market my ground floor flat in Denton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 unless 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 am tempted by the attractive purchase price for a couple of flats in Denton both have approximately 50 years left on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold property in Denton. Do I have any liability for service charges for periods before completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

I acquired a studio flat in Denton, conveyancing formalities finalised 2004. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Denton with over 90 years remaining are worth £168,000. The ground rent is £60 charged once a year. The lease expires on 21st October 2093

With only 68 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Denton