I am hoping to complete next month on a garden flat in Rochdale. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Rochdale should include some of the following:

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

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Rochdale. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Rochdale are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Rochdale in which case you should be looking for a Rochdale conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.

My wife and I purchased a leasehold flat in Rochdale. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Rochdale who previously acted has long since retired.What should I do?

First make enquiries of 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 instruct a Rochdale conveyancing lawyer 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 rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of maisonettes in Rochdale both have approximately 50 years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

I work for a reputable estate agency in Rochdale where we have witnessed a few flat sales jeopardised as a result of short leases. I have received contradictory information from local Rochdale conveyancing firms. Please can you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I bought a 1 bedroom flat in Rochdale, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Rochdale with a long lease are worth £265,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2094

You have 70 years unexpired the likely cost is going to be between £10,500 and £12,000 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Rochdale