Fixed-fee leasehold conveyancing in Marple:

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Frequently asked questions relating to Marple leasehold conveyancing

Helen (my wife) and I may need to sub-let our Marple 1st floor flat for a while due to a new job. We used a Marple conveyancing firm in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Marple 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 see 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 seems to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Marple. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Marple are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Marple so you should seriously consider looking for a Marple conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.

Back In 2007, I bought a leasehold flat in Marple. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Marple who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Marple conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Marple which have about fifty years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Marple. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area

I am a negotiator for a reputable estate agency in Marple where we have witnessed a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Marple conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that 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 can avoid having to sit tight for 2 years to extend their lease. 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 sale.

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 buyer.

I purchased a garden flat in Marple, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Marple with a long lease are worth £251,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2081

With just 57 years unexpired we estimate the premium for your lease extension to range between £24,700 and £28,600 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

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Lease Extensions in Marple