I am in need of some leasehold conveyancing in Hyde. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Hyde - 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.

Frank (my husband) and I may need to sub-let our Hyde ground floor flat for a while due to a career opportunity. We instructed a Hyde conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease dictates the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Hyde do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

There are only Fifty years remaining on my lease in Hyde. I now want to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the lessor. For most situations an enquiry agent may be helpful to try and locate and to produce an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Hyde.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hyde. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Hyde ?

The majority of houses in Hyde are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Hyde in which case you should be shopping around for a Hyde conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I am tempted by the attractive purchase price for a two maisonettes in Hyde both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Hyde is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and banks, leases with less than eighty 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 property 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 Hyde 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

I bought a ground floor flat in Hyde, conveyancing having been completed in 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Hyde with an extended lease are worth £174,000. The ground rent is £45 per annum. The lease runs out on 21st October 2087

You have 61 years remaining on your lease the likely cost is going to span between £20,000 and £23,000 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.