My wife and I may need to rent out our Askam In Furness garden flat temporarily due to a new job. We used a Askam In Furness conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

The lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Askam In Furness do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Askam In Furness. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Askam In Furness ?

The majority of houses in Askam In Furness are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Askam In Furness so you should seriously consider shopping around for a Askam In Furness conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.

I am employed by a long established estate agent office in Askam In Furness where we have witnessed a few flat sales jeopardised as a result of short leases. I have received contradictory information from local Askam In Furness conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension formalities 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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

What are your top tips when it comes to appointing a Askam In Furness conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Askam In Furness conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Askam In Furness conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If they are not ALEP accredited then why not?

What makes a Askam In Furness lease problematic?

Leasehold conveyancing in Askam In Furness is not unique. All leases are unique and drafting errors 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 elements 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 will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Bank of Scotland, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

I acquired a 1st floor flat in Askam In Furness, conveyancing formalities finalised 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Askam In Furness with a long lease are worth £173,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2087

You have 62 years left to run we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Askam In Furness