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Leasehold conveyancing in Millom is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Millom and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Common questions relating to Millom leasehold conveyancing

My husband and I may need to sub-let our Millom basement flat temporarily due to a new job. We used a Millom conveyancing firm in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Millom do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Expecting to sign contracts shortly on a leasehold property in Millom. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Millom should include some of the following:

  • Are you allowed to have a pet in the flat?
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be contained in your report on your leasehold property in Millom please enquire of your conveyancer in ahead of your conveyancing in Millom

    • I am a negotiator for a reputable estate agent office in Millom where we see a number of leasehold sales jeopardised due to short leases. I have received conflicting advice from local Millom conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

    As long as 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. 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 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 buyer.

    Can you provide any advice for leasehold conveyancing in Millom with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Millom can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Millom state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such changes. Should you fail to have the approvals to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • Some Millom leases require Licence to Assign from the landlord. 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. The bank reference will need to confirm that the buyers are financially capable of paying 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 buyers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate can be a time consuming process and delays many a Millom conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • What makes a Millom lease problematic?

    Leasehold conveyancing in Millom is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

    Millom Leasehold Conveyancing - Sample of Questions you should ask before buying

      Where a Millom lease has fewer than eighty years it will have adverse implications on the salability of the property. Check with your lender that they are content with remaining years on the lease. A short lease means that you will most likely need a lease extension sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you will need to own the property for two years in order to be eligible to extend the lease. Is anyone aware of any major works in the planning that could increase the maintenance charges? In the main the cost for major works tend not to be incorporated into the service charges, although a few managing agents in Millom ask leaseholders to pay into a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance.

    Other Topics

    Lease Extensions in Millom