I am on look out for some leasehold conveyancing in Bury. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Bury - 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.

Having checked my lease I have discovered that there are only Sixty One years left on my lease in Bury. I now wish to get lease extension but my landlord is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. For most situations an enquiry agent would be useful to try and locate and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Bury.

Expecting to complete next month on a leasehold property in Bury. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Bury 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’m about to sell my 2 bed apartment in Bury.Conveyancing has not commenced but I have just received a yearly service charge demand – Do I pay up?

The sensible thing to do is clear the service charge 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 managing agents 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. This will smooth the conveyancing process.

Last month I purchased a leasehold property in Bury. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I invested in buying a 1 bedroom flat in Bury, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Bury with a long lease are worth £197,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2082

You have 58 years left to run we estimate the premium for your lease extension to be between £23,800 and £27,400 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Bury