I wish to rent out my leasehold flat in Acocks Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Acocks Green conveyancing lawyer is not available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you must obtain consent via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without first obtaining consent. The consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.

I’m about to sell my ground floor flat in Acocks Green.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – 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.

I am attracted to a two maisonettes in Acocks Green both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Acocks Green is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and mortgage companies, leases with less than 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 Acocks Green 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.

Can you provide any top tips for leasehold conveyancing in Acocks Green from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Acocks Green can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers representatives.
• Many landlords or Management Companies in Acocks Green levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Acocks Green.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Acocks Green state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Where you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer in advance.
• A minority of Acocks Green leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Arranging a duplicate share certificate can be a time consuming process and slows down many a Acocks Green conveyancing deal. If a duplicate share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

Are there frequently found problems that you witness in leases for Acocks Green properties?

There is nothing unique about leasehold conveyancing in Acocks Green. Most leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• 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 could 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. Birmingham Midshires, Skipton Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

I invested in buying a basement flat in Acocks Green, conveyancing having been completed 1998. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Acocks Green with an extended lease are worth £215,000. The ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2102

With 76 years left to run the likely cost is going to span between £10,500 and £12,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.