I would like to rent out my leasehold apartment in Prescot. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease dictates relations 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 rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Prescot do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Due to exchange soon on a leasehold property in Prescot. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

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

• Defining your legal entitlements in respect of common areas in the block.By way of example, does the lease permit a right of way over an accessway or staircase?

I’m about to sell my 2 bed flat in Prescot.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?

It best that you 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've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Prescot. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Prescot ?

The majority of houses in Prescot 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 buying in Prescot in which case you should be looking for a Prescot conveyancing practitioner and check that they are used to dealing with 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 with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold house in Prescot. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Prescot who previously acted has long since retired.Any advice?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Prescot conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I inherited a leasehold flat in Prescot, conveyancing formalities finalised 10 years ago. How much will my lease extension cost? Comparable flats in Prescot with a long lease are worth £188,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2084

You have 59 years left to run the likely cost is going to be between £25,700 and £29,600 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

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Lease Extensions in Prescot