My partner and I may need to let out our Abercarn basement flat for a while due to taking a sabbatical. We used a Abercarn conveyancing practice in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Abercarn do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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.

Planning to complete next month on a garden flat in Abercarn. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Abercarn should include some of the following:

• Are pets allowed in the flat?

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Abercarn. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Abercarn ?

The majority of houses in Abercarn are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Abercarn so you should seriously consider shopping around for a Abercarn conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I am looking at a couple of maisonettes in Abercarn both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Abercarn is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Abercarn conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Last month I purchased a leasehold house in Abercarn. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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 bought a 1 bedroom flat in Abercarn, conveyancing was carried out 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Abercarn with over 90 years remaining are worth £204,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2085

With only 60 years left to run the likely cost is going to be between £21,900 and £25,200 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information 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 based on this information before getting professional advice.

Other Topics

Lease Extensions in Abercarn