I would like to sublet my leasehold apartment in Prestwich. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Your lease dictates relations between the landlord and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Prestwich do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

My wife and I purchased a leasehold flat in Prestwich. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Prestwich who acted for me is not around.Any advice?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Prestwich conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of maisonettes in Prestwich both have about 50 years remaining on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Prestwich is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and lenders, leases with less than 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 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 premises 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 Prestwich conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 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.

What advice can you give us when it comes to appointing a Prestwich conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Prestwich 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 two or three firms including non Prestwich conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?
• What are the legal fees for lease extension work?

Completion in due on the disposal of our £ 350000 garden flat in Prestwich in 8 days. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Prestwich?

Prestwich conveyancing on leasehold apartments often requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Prestwich - Sample of Questions you should consider Prior to buying

Can you tell me if there are any major works on the horizon that will likely increase the service fees?