There are only 62 years unexpired on my flat in Milton. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. In some cases an enquiry agent should be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Milton.

Looking forward to exchange soon on a basement flat in Milton. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Milton should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Setting out your rights in relation to common areas in the building.E.G., does the lease contain a right of way over a path or hallways?

Does the lease require carpeting throughout thus preventing wood flooring?

Are you allowed to have a pet in the flat?

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Milton please enquire of your lawyer in ahead of your conveyancing in Milton

I am looking at a two flats in Milton both have in the region of 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Milton is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Milton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to finding a Milton conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Milton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Milton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?

Can they put you in touch with client in Milton who can give a testimonial?

If all goes to plan we aim to complete the disposal of our £275000 apartment in Milton on Friday in a week. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Milton?

Milton conveyancing on leasehold apartments normally necessitates administration charges invoiced by landlords agents :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Milton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Milton leasehold premises is £350. For Milton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

Milton Leasehold Conveyancing - Sample of Questions you should consider Prior to buying

You should want to find out as much as possible concerning the company managing the building as they can either make life much easier or problematic. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the upkeep of the common parts. You should not be shy to ask other tenants whether they are happy with their management. In conclusion, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money. If a Milton lease has less than 80 years it will impact the marketability of the apartment. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out what this will be. For most Miltonlease extensions you would need to own the property for two years in order to be entitled to carry out a lease extension. Is anyone aware of any major works on the horizon that will add a premium to the service costs?

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Lease Extensions in Milton