I want to rent out my leasehold flat in Barlborough. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous Barlborough conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek permission from your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Looking forward to sign contracts shortly on a studio apartment in Barlborough. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Barlborough should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Barlborough. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Barlborough ?

The majority of houses in Barlborough are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Barlborough in which case you should be shopping around for a Barlborough conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

I am looking at a two flats in Barlborough which have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Barlborough. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

What are the common defects that you encounter in leases for Barlborough properties?

There is nothing unique about leasehold conveyancing in Barlborough. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

I purchased a split level flat in Barlborough, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Barlborough with a long lease are worth £261,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2090

With 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. 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. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Barlborough