I wish to let out my leasehold flat in Ulverston. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

The lease dictates relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Ulverston do not contain subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Expecting to sign contracts shortly on a ground floor flat in Ulverston. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

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

• You should be sent a copy of the lease

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Ulverston. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Ulverston ?

Most houses in Ulverston are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Ulverston so you should seriously consider looking for a Ulverston conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

Last month I purchased a leasehold property in Ulverston. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a busy estate agent office in Ulverston where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Ulverston conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 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.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

I inherited a split level flat in Ulverston, conveyancing formalities finalised in 2003. Can you work out an approximate cost of a lease extension? Similar properties in Ulverston with a long lease are worth £169,000. The ground rent is £60 charged once a year. The lease runs out on 21st October 2090

You have 65 years left to run we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. 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 move forward based on this information without first getting professional advice.

Other Topics

Lease Extensions in Ulverston