I would like to rent out my leasehold flat in Broughton In Furness. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Some leases for properties in Broughton In Furness do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 consent.

I am tempted by the attractive purchase price for a two maisonettes in Broughton In Furness which have about forty five years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Broughton In Furness is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat 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 property 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 Broughton In Furness conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

What advice can you give us when it comes to choosing a Broughton In Furness conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Broughton In Furness conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Broughton In Furness conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How many lease extensions have they carried out in Broughton In Furness in the last year?

Can they put you in touch with client in Broughton In Furness who can give a testimonial?

Do you have any advice for leasehold conveyancing in Broughton In Furness with the aim of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Broughton In Furness can be reduced where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers representatives.
• Many freeholders or Management Companies in Broughton In Furness charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Broughton In Furness.

A minority of Broughton In Furness 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 obtain bank and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.

If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.

You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is below 75 years. In the circumstances it is essential 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 home on the market for sale.

If all goes to plan we aim to complete the sale of our £250000 maisonette in Broughton In Furness next Tuesday . The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Broughton In Furness?

For the majority of leasehold sales in Broughton In Furness conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Broughton In Furness
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Broughton In Furness leasehold property is £350. For Broughton In Furness conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I own a ground floor flat in Broughton In Furness, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Broughton In Furness with over 90 years remaining are worth £232,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2099

With 74 years unexpired the likely cost is going to be between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Broughton In Furness