I want to let out my leasehold apartment in Allestree. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last Allestree conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to seek consent from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior permission. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.

I only have Sixty One years remaining on my lease in Allestree. I now wish to extend my lease but my freeholder is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the lessor. In some cases an enquiry agent should be useful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Allestree.

I am attracted to a couple of apartments in Allestree which have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

I am employed by a long established estate agent office in Allestree where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Allestree conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. 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 purchaser.

What advice can you give us when it comes to choosing a Allestree conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Allestree conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Allestree conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?

Allestree Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

You should be aware if it is fewer than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you will need to own the residence for two years before you are eligible to extend the lease. In the main the cost for major works are not wrapped into the maintenance charges, albeit that some managing agents in Allestree require leaseholders to pay into a reserve fund created for the specific purpose of building a fund for major works. Its a good idea to discover as much as possible regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the common parts. Don't be shy to ask other tenants what they think of their service. Finally, find out the dates that you are obliged pay the service charge to the relevant party and specifically how they are spending the funds.

Other Topics

Lease Extensions in Allestree