Quality lawyers for Leasehold Conveyancing in Linslade

Any conveyancing practice can theoretically handle your leasehold conveyancing in Linslade, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Linslade leasehold conveyancing

My wife and I may need to rent out our Linslade 1st floor flat temporarily due to a new job. We instructed a Linslade conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

A lease governs the relationship between the freeholder and you the leaseholder; in particular, it will say 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 permitted. Most leases in Linslade do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

There are only 72 years remaining on my lease in Linslade. I now wish to extend my lease but my freeholder is absent. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have used your best endeavours to locate the lessor. For most situations a specialist should be helpful to try and locate and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Linslade.

I am looking at a two maisonettes in Linslade which have about forty five years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Linslade is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. 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 a residence 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 Linslade 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.

I've recently bought a leasehold flat in Linslade. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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).

Do you have any top tips for leasehold conveyancing in Linslade with the aim of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Linslade can be bypassed if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
  • The majority landlords or managing agents in Linslade levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Linslade.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Linslade state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such changes. Should you dont have the approvals in place you should not contact the landlord without contacting your solicitor in advance.
  • A minority of Linslade leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • You believe that you know the number of years left on your lease but you should double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Leasehold Conveyancing in Linslade - A selection of Queries Prior to Purchasing

      Is anyone aware of any major works anticipated that will likely increase the service charges? This question is helpful as a) areas could result in problems for the building as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to have all the details Is the freehold reversion owned collectively by the tenants?

    Other Topics

    Lease Extensions in Linslade