I am on look out for some leasehold conveyancing in Milnthorpe. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Milnthorpe - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I’m about to sell my 2 bed apartment in Milnthorpe.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – Do I pay up?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold house in Milnthorpe. Conveyancing and Aldermore mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Milnthorpe who previously acted has long since retired.Do I pay?

First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Milnthorpe conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am employed by a long established estate agency in Milnthorpe where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Milnthorpe conveyancing firms. Could you clarify whether the owner of a flat can commence the lease extension process 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 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.

When it comes to leasehold conveyancing in Milnthorpe what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Milnthorpe. All leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Virgin Money, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Milnthorpe Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Are any of leasehold owners in arrears of their service charge liability? What prohibitions are contained in the Milnthorpe Lease? How is the lease structured?

Other Topics

Lease Extensions in Milnthorpe