I am in need of some leasehold conveyancing in Stalybridge. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Stalybridge - then the leasehold title will always include the short particulars 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.

My wife and I purchased a leasehold house in Stalybridge. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Stalybridge who acted for me is not around.What should I do?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Stalybridge conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of apartments in Stalybridge both have about 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Stalybridge is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and lenders, 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 property 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 Stalybridge 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 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.

I work for a busy estate agent office in Stalybridge where we have experienced a few flat sales jeopardised due to short leases. I have received contradictory information from local Stalybridge conveyancing solicitors. Please can you clarify whether the vendor of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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 buyer.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 125000 flat in Stalybridge in nine days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Stalybridge?

Stalybridge conveyancing on leasehold maisonettes usually necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They may invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I invested in buying a leasehold flat in Stalybridge, conveyancing having been completed half a dozen years ago. 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 flats in Stalybridge with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2086

You have 60 years unexpired we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be 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 placing reliance on this information without first seeking the advice of a professional.