Frank (my husband) and I may need to rent out our Aldermanbury garden flat temporarily due to a career opportunity. We instructed a Aldermanbury conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Aldermanbury conveyancing solicitor is not available you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you must seek consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.

Looking forward to exchange soon on a ground floor flat in Aldermanbury. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I’m about to sell my 2 bed apartment in Aldermanbury.Conveyancing has not commenced but I have just received a half-yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 managing agents will not acknowledge the buyer unless 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 tempted by the attractive purchase price for a couple of maisonettes in Aldermanbury both have approximately forty five years remaining on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Aldermanbury conveyancing firm to act on my behalf?

in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the premium.

An example of a Lease Extension decision for a Aldermanbury property is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The the unexpired residue of the current lease was 72.39 years.

In relation to leasehold conveyancing in Aldermanbury what are the most common lease problems?

Leasehold conveyancing in Aldermanbury is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• 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 have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Mortgage Works, and Alliance & Leicester all have very detailed 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 buyer to pull out.

Other Topics

Lease Extensions in Aldermanbury