Common questions relating to Ince in Makerfield leasehold conveyancing
I am on look out for some leasehold conveyancing in Ince in Makerfield. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Ince in Makerfield - 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.
Frank (my husband) and I may need to let out our Ince in Makerfield garden flat for a while due to taking a sabbatical. We used a Ince in Makerfield conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Ince in Makerfield conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only 68 years remaining on my lease in Ince in Makerfield. I now want to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the freeholder. In some cases an enquiry agent may be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court covering Ince in Makerfield.
I have just appointed agents to market my 2 bed apartment in Ince in Makerfield.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – what should I do?
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 management companies will not acknowledge the buyer unless 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 am a negotiator for a busy estate agency in Ince in Makerfield where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Ince in Makerfield conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 buyer.
I bought a split level flat in Ince in Makerfield, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Ince in Makerfield with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2094
With 68 years left to run the likely cost is going to span between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
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