My mortgage broker requires my Hulme lawyer’ panel member for the Nat West conveyancing panel. Can you suggest how I obtain this. I have called my local Hulme office but they don't know it.

You are best placed to get this information from your Hulme property lawyer . They retain a central record lender panel numbers.

I purchased a freehold residence in Hulme but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Hulme and has limited impact for conveyancing in Hulme but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.

I decided to have a survey carried out on a property in Hulme before appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies may refuse to give a mortgage on such a premises.

It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hulme. Conveyancing will be smoother if you use a solicitor in Hulme especially if they are acquainted with such properties in Hulme.

I am attracted to a two flats in Hulme both have about forty five years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Hulme is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and banks, leases with less than eighty years become less and less attractive. 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 Hulme 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 purchased a 1 bedroom flat in Hulme, conveyancing formalities finalised in 2007. Can you work out an approximate cost of a lease extension? Similar properties in Hulme with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2088

With 63 years left to run we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

What are the compelling advantages to instructing a local lawyer in Hulme

Many buyers and sellers in Hulme prefer a nearby high street conveyancer so that they can pop into the firm’s offices in the event that they have questions, and to collect paperwork rather than run the risk of depending on the Royal Mail.

There is a marginal benefit in opting for a solicitor nearby to a property you are purchasing, due to the knowledge of the locality and potential local concerns - but this is debatable. Most conveyancers undertaking their communications via email and could be based anywhere.