My partner and I may need to rent out our Walkden garden flat for a while due to taking a sabbatical. We instructed a Walkden conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Even though your previous Walkden conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior consent. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

Planning to exchange soon on a leasehold property in Walkden. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

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

My wife and I purchased a leasehold flat in Walkden. Conveyancing and Britannia mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Walkden who previously acted has now retired.Do I pay?

First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Walkden conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, 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 Walkden both have about fifty years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Walkden is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most purchasers and banks, leases with less than 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 premises 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 Walkden 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 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.

If all goes to plan we aim to complete the sale of our £475000 garden flat in Walkden in 5 days. The management company has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Walkden?

Walkden conveyancing on leasehold flats usually involves the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded if you want to complete the sale of your home.

I own a leasehold flat in Walkden, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Walkden with an extended lease are worth £218,000. The ground rent is £60 charged once a year. The lease finishes on 21st October 2087

With just 62 years unexpired we estimate the price of your lease extension to be between £21,900 and £25,200 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should 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.

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Lease Extensions in Walkden