My wife and I may need to sub-let our Aberporth garden flat temporarily due to a career opportunity. We used a Aberporth conveyancing practice in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

A lease governs relations between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Aberporth do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I have recently realised that I have Seventy years remaining on my lease in Aberporth. I now wish to get lease extension but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. On the whole an enquiry agent may be useful to conduct investigations and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Aberporth.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Aberporth. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Aberporth ?

The majority of houses in Aberporth are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Aberporth so you should seriously consider shopping around for a Aberporth conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am a negotiator for a reputable estate agent office in Aberporth where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Aberporth conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension process for the buyer?

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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 buyer.

What makes a Aberporth lease defective?

Leasehold conveyancing in Aberporth is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Royal Bank of Scotland, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

I acquired a basement flat in Aberporth, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Aberporth with an extended lease are worth £212,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2101

With only 76 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus professional fees.

The suggested premium range 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 tribunal or court proceedings. There are no doubt additional issues that need to be taken into account 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.

Other Topics

Lease Extensions in Aberporth