Fixed-fee leasehold conveyancing in Preston:

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

Examples of recent questions relating to leasehold conveyancing in Preston

Frank (my husband) and I may need to let out our Preston basement flat temporarily due to taking a sabbatical. We used a Preston conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Preston do contain a provision to say that subletting is only allowed with permission. The landlord cannot 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 permission.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Preston. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Preston ?

The majority of houses in Preston are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Preston in which case you should be shopping around for a Preston conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I've recently bought a leasehold flat in Preston. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part 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).

I am a negotiator for a long established estate agency in Preston where we have experienced a number of leasehold sales put at risk due to short leases. I have received inconsistent advice from local Preston conveyancing firms. Can you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 before, or at the same time as 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.

Can you provide any top tips for leasehold conveyancing in Preston from the perspective of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Preston can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
  • Many freeholders or Management Companies in Preston levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Preston.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Preston leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place you should not contact the landlord without checking with your lawyer in advance.
  • Some Preston leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 purchasers or their lawyers.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Organising a new share certificate can be a lengthy formality and slows down many a Preston home move. Where a duplicate share is required, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.

    • I inherited a two-bedroom flat in Preston. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

    Absolutely. We can put you in touch with a Preston conveyancing firm who can help.

    An example of a Lease Extension case for a Preston property is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 74 years.

    Other Topics

    Lease Extensions in Preston