Questions and Answers: Milton Keynes leasehold conveyancing
My husband and I may need to sub-let our Milton Keynes 1st floor flat for a while due to a career opportunity. We used a Milton Keynes conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs relations between the freeholder and you the flat owner; in particular, it will say 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. Most leases in Milton Keynes do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I only have Sixty One years left on my lease in Milton Keynes. I am keen to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to locate the freeholder. On the whole a specialist would be helpful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the application to the County Court covering Milton Keynes.
Back In 2009, I bought a leasehold flat in Milton Keynes. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Milton Keynes who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Milton Keynes conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
All being well we will complete the sale of our £150000 apartment in Milton Keynes on Tuesday in a week. The management company has quoted £336 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Milton Keynes?
Milton Keynes conveyancing on leasehold maisonettes normally involves the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to do so. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.
When it comes to leasehold conveyancing in Milton Keynes what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Milton Keynes. All leases are individual and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
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. Halifax, Skipton Building Society, and TSB 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 does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I bought a 2 bed flat in Milton Keynes, conveyancing was carried out in 1996. Can you work out an approximate cost of a lease extension? Corresponding flats in Milton Keynes with an extended lease are worth £261,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2088
With 63 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
Other Topics