My wife and I may need to sub-let our Avonmouth 1st floor flat for a while due to a new job. We used a Avonmouth conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Avonmouth conveyancing solicitor is not available you can review your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.

There are only 72 years remaining on my flat in Avonmouth. I now want to get lease extension but my freeholder is absent. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the lessor. On the whole a specialist would be helpful to try and locate and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Avonmouth.

I am tempted by the attractive purchase price for a couple of flats in Avonmouth which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Avonmouth is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Avonmouth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any top tips for leasehold conveyancing in Avonmouth with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Avonmouth can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Avonmouth state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the approvals to hand you should not contact the landlord without contacting your lawyer before hand.

What makes a Avonmouth lease problematic?

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

• Repairing obligations 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 difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Coventry Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

Leasehold Conveyancing in Avonmouth - A selection of Queries Prior to Purchasing

Are any of leasehold owners in dispute over their service charge liability? Is there a share of the freehold? Its a good idea to find out as much as possible concerning the managing agents as they can either make living at the property much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to every day issues like the cleanliness of the common parts. Enquire of prospective neighbours what they think of them. On a final note, be sure you understand the dates that you are obliged pay the service charge to the relevant party and precisely what it includes.

Other Topics

Lease Extensions in Avonmouth