Having had my offer accepted I require leasehold conveyancing in Ampthill. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Ampthill - then the leasehold title will always include the basic details 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 would like to let out my leasehold flat in Ampthill. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Ampthill do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am tempted by the attractive purchase price for a couple of flats in Ampthill which have in the region of forty five years unexpired on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

I work for a reputable estate agent office in Ampthill where we see a few flat sales put at risk due to short leases. I have been given inconsistent advice from local Ampthill conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 flat in Ampthill in just under a week. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Ampthill?

Ampthill conveyancing on leasehold flats more often than not necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to complete the sale of your home.

Ampthill Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

Many Ampthill leasehold flats will have a service bill for maintenance of the building levied on behalf of the landlord. Should you buy the property you will have to pay this amount, normally periodically throughout the year. This may be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a significant sum, say approximately £50-£100 but you should to check as occasionally it could be surprisingly expensive. Make sure you find out if there are any onerous prohibitions in the lease. For example some leases prohibit pets being permitted in in a block in Ampthill. If you love the flatin Ampthill yet your dog can’t live with you then you will be faced hard choice. Are any of leasehold owners in dispute over their service charge payments?

Other Topics

Lease Extensions in Ampthill