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Milnthorpe leasehold conveyancing: Q and A’s

I want to rent out my leasehold flat in Milnthorpe. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Milnthorpe do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I only have Seventy years remaining on my lease in Milnthorpe. I now wish to get lease extension but my freeholder is absent. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist would be helpful to carry out a search and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Milnthorpe.

Last month I purchased a leasehold property in Milnthorpe. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 am a negotiator for a reputable estate agency in Milnthorpe where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Milnthorpe conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

Do you have any top tips for leasehold conveyancing in Milnthorpe from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Milnthorpe can be bypassed if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
  • The majority landlords or Management Companies in Milnthorpe levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Milnthorpe.
  • Some Milnthorpe leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a new share certificate is often a time consuming process and slows down many a Milnthorpe conveyancing transaction. Where a duplicate share certificate is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Leasehold Conveyancing in Milnthorpe - A selection of Questions you should consider before buying

      What is the maintenance charge and ground rent on the flat? You should be aware if it is fewer than 80 years it will impact the salability of the flat. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be be obliged to have owned the premises for two years in order to be eligible to extend the lease. It would be wise to investigate if there are any onerous prohibitions in the lease. For instance it is fairly common in Milnthorpe leases that pets are not permitted in in a block in Milnthorpe. If you love the apartmentin Milnthorpe but your dog can’t make the move with you then you will be presented with a difficult choice.

    Other Topics

    Lease Extensions in Milnthorpe