Frequently asked questions relating to Seascale leasehold conveyancing
I wish to rent out my leasehold flat in Seascale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Seascale do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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 only have 68 years left on my flat in Seascale. I am keen to extend my lease but my freeholder is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases a specialist would be helpful to conduct investigations and prepare an expert document to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Seascale.
I am looking at a couple of flats in Seascale which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Seascale. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. 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 as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field
I work for a busy estate agent office in Seascale where we have witnessed a few flat sales put at risk due to short leases. I have been given inconsistent advice from local Seascale conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that 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. This means that the proposed purchaser need not have 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 simultaneously with 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 purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £150000 apartment in Seascale next Friday . The landlords agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Seascale?
For the majority of leasehold sales in Seascale conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Seascale
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a 1st floor flat in Seascale, conveyancing was carried out in 2011. How much will my lease extension cost? Comparable flats in Seascale with an extended lease are worth £237,000. The ground rent is £60 per annum. The lease ends on 21st October 2075
With only 53 years left to run we estimate the price of your lease extension to be between £33,300 and £38,400 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.