Make changes on your lease

Leasehold extensions

To apply to extend the lease on your property you must have owned your flat for two years. Before you can proceed we would advise you to obtain the services of a solicitor.

Typical costs required to extend a lease (all payable by the applicant):

  • Lease administration fee - £75 is required in advance for all applications payable to Bolton at Home. This is subject to change.
  • Independent valuation fee – between £545 and £630 plus VAT. This is subject to change
  • Cost of the actual lease extension, this could range between £800 and £5000 depending on the valuation.
  • Our legal fee – You would be expected to pay any legal fees we incur. The cost of this will depend on the complexity of the purchase, but an average cost (where there are no issues) would be in the region of £575 – £750.
  • If applicable, retrospective building work permission fee of £150. This is for building work such as extensions that did not have written consent. Any work completed 10 years ago or more will be exempt.

If you want further information about extending your lease, you should contact Bolton at Home on 01204 328000 or email freeandleaseholdenquiries@boltonathome.org.uk
 

Sub-letting (renting out) your home

As a responsible landlord, Bolton at Home wishes to know who is residing within its buildings, if you choose to sub-let your property please:

  • Provide the tenants contact details and the contact details of any management company appointed to manage the letting of the leasehold property.
  • Ensure that their tenant complies with all provisions contained within the lease. Essentially you as leaseholder will be responsible for how the tenant conducts their tenancy.
  • Ensure that all costs due to Bolton at Home under the terms of the lease continue to be paid.

As the Leaseholder you will still be required to maintain the property and pay the service charges.

It is important you tell us if you sub-let your property.

There are important things you need to do about safety checks that are legally required if you sub-let your home. As a landlord, you are responsible for the safety of your tenants.  It is a criminal offence for landlords to provide an appliance or furniture that does not comply with the respective safety regulations. (Please see gas safety). https://www.boltonathome.org.uk/leasehold-repairs
 

Selling your property

You can sell your home at any time. Leases are subject to a five-year discount repayment period. This means that if you sell your home within five years of buying it, you must pay back a percentage of the discount.

In addition to this, if you sell your home within the first 10 years you must give Bolton at Home the right of first refusal on the property.

Who should I tell when I sell?

Your solicitor must notify us when you have accepted an offer so that we can advise them on what you owe us for day-to-day service charges, major works, building insurance and ground rent.     

Please note there are strict timescales within your lease regarding when we should be updated regarding changes to the lease. All information should be provided to us within one calendar month.
 

Buying the Freehold (houses)

To apply to buy the Freehold on your property we would advise you to obtain the services of a solicitor.

Typical costs required to buy the Freehold (all payable by the applicant):

  • Lease administration fee - £75 is required in advance for all applications payable to Bolton at Home. This is subject to change.
  • Independent valuation fee – between £545 and £630 plus VAT. This is subject to change.
  • Cost of the actual Freehold, this could range between £800 and £5000 depending on the valuation.
  • Our legal fee – You would be expected to pay any legal fees we incur. The cost of this will depend on the complexity of the purchase, but an average cost (where there are no issues) would be in the region of £575 – £750.
  • If applicable, retrospective building work permission fee of £150. This is for building work such as extensions that did not have written consent. Any work completed 10 years ago or more will be exempt.
  • Ongoing annual estate charge to be paid. This is currently £67.68 per year but is subject to change.

If you want further information about extending your lease, you should contact Bolton at Home on 01204 328000 or email freeandleaseholdenquiries@boltonathome.org.uk
 

Enfranchisement (buying the Freehold of flats)

If you wish to buy the Freehold of the block of flats of which you are a leaseholder, Bolton at Home would advise you seek legal advice. There is a process to follow and criteria which needs to be met. It is a very complex process and all costs associated would be the responsibility of the applicants.