My partner and I may need to rent out our Appleby In Westmorland garden flat for a while due to taking a sabbatical. We used a Appleby In Westmorland conveyancing firm in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

A lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Appleby In Westmorland do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I own a leasehold flat in Appleby In Westmorland. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Appleby In Westmorland who acted for me is not around.Any advice?

First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Appleby In Westmorland conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Appleby In Westmorland both have in the region of forty five years left on the lease term. Do I need to be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. 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 reputable estate agency in Appleby In Westmorland where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Appleby In Westmorland conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?

As long as 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 need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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 makes a Appleby In Westmorland lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Appleby In Westmorland. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections 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 building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

Appleby In Westmorland Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

What is the name of the managing agents? Are any of leasehold owners in dispute over their service charge payments? Please note that where the lease has less than eighty years it will impact the salability of the property. Check with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and it is worth discovering how much this will be. For most Appleby In Westmorlandlease extensions you will need to own the premises for two years in order to be eligible to carry out a lease extension.

Other Topics

Lease Extensions in Appleby In Westmorland