I am in need of some leasehold conveyancing in Prescot and Knowlsey. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Prescot and Knowlsey - 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.

I want to let out my leasehold flat in Prescot and Knowlsey. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Some leases for properties in Prescot and Knowlsey do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Having checked my lease I have discovered that there are only 62 years remaining on my flat in Prescot and Knowlsey. I now want to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent should be useful to try and locate and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Prescot and Knowlsey.

My wife and I purchased a leasehold flat in Prescot and Knowlsey. Conveyancing and Santander mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Prescot and Knowlsey who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Prescot and Knowlsey conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of maisonettes in Prescot and Knowlsey which have approximately 50 years unexpired on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Prescot and Knowlsey is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and lenders, leases with under eighty years become less and less marketable. On a more positive 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 Prescot and Knowlsey 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 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.

Leasehold Conveyancing in Prescot and Knowlsey - A selection of Queries Prior to buying

Where a Prescot and Knowlsey lease has no more than 80 years it will have adverse implications on the value of the flat. Check with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably need a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will be required to have owned the property for 24 months before you are entitled to extend the lease. The majority of Prescot and Knowlsey leasehold properties will be liable to pay a service charge for the upkeep of the building invoiced by the freeholder. Should you acquire the apartment you will have to meet this liability, usually in instalments throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge to be met annual, ordinarily this is not a exorbitant amount, say about £25-£75 but you need to enquire as occasionally it can be many hundreds of pounds. Who are the managing agents?

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Lease Extensions in Prescot and Knowlsey