I wish to sublet my leasehold flat in Milton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Milton conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the premises. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to seek consent from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I work for a busy estate agency in Milton where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Milton conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension formalities for the buyer?

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 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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 offer any advice when it comes to finding a Milton conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Milton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Milton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then why not?

We expect to complete our sale of a £375000 flat in Milton in just under a week. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Milton?

Milton conveyancing on leasehold apartments often involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. In reality one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.

When it comes to leasehold conveyancing in Milton what are the most frequent lease problems?

Leasehold conveyancing in Milton is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

I inherited a 1 bedroom flat in Milton, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Milton with over 90 years remaining are worth £190,000. The ground rent is £60 invoiced every year. The lease finishes on 21st October 2088

You have 63 years remaining on your lease the likely cost is going to range between £18,100 and £20,800 plus 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 without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Milton