I wish to rent out my leasehold flat in Aldermanbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A small minority of properties in Aldermanbury do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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 permission.

Looking forward to complete next month on a basement flat in Aldermanbury. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?

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

• You should be sent a copy of the lease

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

The physical extent of the demise. This will be the flat itself but may include a loft or basement if applicable.

Ground rent - how much and when you need to pay, and also know whether this is subject to change

Whether your lease has a provision for a sinking fund?

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For details of the information to be included in your report on your leasehold property in Aldermanbury please enquire of your solicitor in advance of your conveyancing in Aldermanbury

I am a negotiator for a reputable estate agent office in Aldermanbury where we see a few flat sales derailed as a result of short leases. I have received conflicting advice from local Aldermanbury conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Completion in due on the disposal of our £300000 apartment in Aldermanbury next week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Aldermanbury?

For the majority of leasehold sales in Aldermanbury conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-exchange questions
• Where consent is required before sale in Aldermanbury
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Aldermanbury leasehold property is £350. For Aldermanbury conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

I have had difficulty in trying to reach an agreement for a lease extension in Aldermanbury. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a absentee landlord or if there is disagreement 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 assess the amount due.

An example of a Lease Extension decision for a Aldermanbury residence 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 defects?

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

• A provision to repair to or maintain parts of the premises
• 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 may 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. Birmingham Midshires, The Royal Bank of Scotland, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

Other Topics

Lease Extensions in Aldermanbury