I have just appointed agents to market my garden apartment in Blackburn.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – Do I pay up?

The sensible thing to do is clear the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold flat in Blackburn. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Blackburn who previously acted has now retired.What should I do?

First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Blackburn conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two flats in Blackburn both have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Blackburn is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Blackburn conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 am a negotiator for a reputable estate agent office in Blackburn where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Blackburn conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner 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. This means that the proposed purchaser can avoid having to sit tight for 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 at the same time as completion of the disposal of the property.

An alternative approach is 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.

Can you provide any top tips for leasehold conveyancing in Blackburn from the point of view of expediting the sale process?

• Much of the delay in leasehold conveyancing in Blackburn can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
• The majority landlords or Management Companies in Blackburn levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Blackburn.

Blackburn Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

What is the name of the managing agents? How many years remain on the lease? Generally speaking the outlay for major works tend not to be wrapped into the maintenance charges, although there some managing agents in Blackburn require leasehold owners to pay into a reserve fund created for the specific purpose of building a fund for major works.

Other Topics

Lease Extensions in Blackburn