Common questions relating to Milton Keynes leasehold conveyancing
I am intending to let out my leasehold flat in Milton Keynes. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Milton Keynes do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I’m about to sell my ground floor flat in Milton Keynes.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the invoice 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold flat in Milton Keynes. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Milton Keynes who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Milton Keynes conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to choosing a Milton Keynes conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Milton Keynes conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Milton Keynes conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
If all goes to plan we aim to complete the sale of our £475000 maisonette in Milton Keynes in just under a week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 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 usually necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions 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, without which the charge is technically not due. In reality one has no option but to pay whatever is demanded should you wish to sell the property.
I invested in buying a garden flat in Milton Keynes, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Milton Keynes with over 90 years remaining are worth £240,000. The ground rent is £45 per annum. The lease runs out on 21st October 2074
With only 51 years remaining on your lease we estimate the premium for your lease extension to span between £38,000 and £44,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.