Leasehold Conveyancing in Milton - Get a Quote from the leasehold experts approved by your lender

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Milton, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Milton leasehold conveyancing

Harry (my fiance) and I may need to sub-let our Milton basement flat for a while due to a career opportunity. We instructed a Milton conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Milton conveyancing solicitor is not available you can review your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you must obtain consent via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I have recently realised that I have Seventy years left on my lease in Milton. I am keen to get lease extension but my landlord is can not be found. What are my options?

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 lengthened by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Milton.

I am attracted to a two maisonettes in Milton which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Milton. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to choosing a Milton conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Milton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several 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 useful:

  • Can they put you in touch with client in Milton who can give a testimonial?
  • What are the costs for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Milton from the point of view of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Milton can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
    • The majority freeholders or managing agents in Milton levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Milton.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Milton state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Where you dont have the approvals in place you should not communicate with the landlord without contacting your lawyer before hand.
  • A minority of Milton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 purchasers or their lawyers.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I inherited a ground floor flat in Milton, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Milton with an extended lease are worth £250,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2091

    With only 67 years remaining on your lease the likely cost is going to span between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. 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 should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Milton