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

Your lease governs the relationship between the landlord and you the flat owner; specifically, it will set out 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 permitted. Most leases in Aspley Guise do not contain subletting altogether – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I have just started marketing my 2 bed flat in Aspley Guise.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Aspley Guise. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Aspley Guise are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Aspley Guise so you should seriously consider looking for a Aspley Guise conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am employed by a busy estate agency in Aspley Guise where we have witnessed a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Aspley Guise conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

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 buyer.

Can you offer any advice when it comes to finding a Aspley Guise conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Aspley Guise 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 several firms including non Aspley Guise conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If the firm is not ALEP accredited then why not?
• What are the legal fees for lease extension conveyancing?

Leasehold Conveyancing in Aspley Guise - Examples of Questions you should ask before Purchasing

You should want to find out as much as you can concerning the company managing the building as they will either make life much simpler or much more difficult. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the upkeep of the communal areas. Enquire of other tenants whether they are happy with their service. On a final note, be sure you understand the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money. If a Aspley Guise lease has fewer than eighty years it will have adverse implications on the marketability of the property. Check with your lender that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Aspley Guiselease extensions you would be required to have owned the residence for two years in order to be eligible to exercise a lease extension.