My partner and I may need to let out our Aldermanbury garden flat temporarily due to a new job. We used a Aldermanbury conveyancing practice in 2002 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 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 conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Aldermanbury do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Having checked my lease I have discovered that there are only 72 years left on my lease in Aldermanbury. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. For most situations a specialist should be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering Aldermanbury.

Expecting to complete next month on a garden flat in Aldermanbury. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?

The 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, freeholder

We expect to complete our sale of a £325000 garden flat in Aldermanbury next week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Aldermanbury?

Aldermanbury conveyancing on leasehold flats more often than not involves the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are entitled charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.

I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Aldermanbury conveyancing firm to assist?

if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the premium.

An example of a Lease Extension decision for a Aldermanbury flat 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 was in relation to 2 flats. The the unexpired term as at the valuation date was 72.39 years.

What are the frequently found deficiencies that you see in leases for Aldermanbury properties?

Leasehold conveyancing in Aldermanbury is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Other Topics

Lease Extensions in Aldermanbury