Middleton leasehold conveyancing: Q and A’s
I wish to rent out my leasehold apartment in Middleton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Middleton 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.
Due to complete next month on a garden flat in Middleton. Conveyancing solicitors have said that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Middleton should include some of the following:
- You should receive a copy of the lease
I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Middleton. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Middleton ?
Most houses in Middleton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Middleton in which case you should be shopping around for a Middleton conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.
I work for a busy estate agency in Middleton where we have experienced a number of leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local Middleton conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 purchaser.
What are your top tips when it comes to appointing a Middleton conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Middleton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Middleton 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 helpful:
- How experienced is the firm with lease extension legislation?
I bought a garden flat in Middleton, conveyancing was carried out in 1995. 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? Equivalent flats in Middleton with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2096
With just 74 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.