I am in need of some leasehold conveyancing in Ambleside. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is registered - and most are in Ambleside - then the leasehold title will always include the short particulars 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.

I am intending to sublet my leasehold apartment in Ambleside. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Ambleside do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I’m about to sell my 2 bed apartment in Ambleside.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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.

I've recently bought a leasehold property in Ambleside. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. A critical element 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 employed by a long established estate agent office in Ambleside where we have witnessed a few flat sales derailed as a result of short leases. I have been given conflicting advice from local Ambleside conveyancing firms. Could you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 proposed purchaser 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 prior to, 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.

Leasehold Conveyancing in Ambleside - A selection of Queries Prior to buying

Does this lease have in excess of 90 years left? How much is the ground rent and service charge? Please note that where the lease has no more than eighty years it will impact the value of the property. It is worth checking with your mortgage company that they are content with residual term of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out what this will be. For most Amblesidelease extensions you will need to own the premises for two years before you are eligible to exercise a lease extension.

Other Topics

Lease Extensions in Ambleside