I am intending to let out my leasehold apartment in Beaminster. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Beaminster conveyancing lawyer is not 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 permitted. There may be a precondition that you need to seek permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I’m about to sell my basement apartment in Beaminster.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of apartments in Beaminster both have in the region of 50 years left on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Beaminster is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive 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 property 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 Beaminster 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

I am employed by a long established estate agency in Beaminster where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Beaminster conveyancing firms. Could you confirm whether the vendor of a flat can instigate 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. 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 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 buyer.

When it comes to leasehold conveyancing in Beaminster what are the most frequent lease problems?

Leasehold conveyancing in Beaminster is not unique. All leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• 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

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

Leasehold Conveyancing in Beaminster - Sample of Questions you should consider Prior to buying

You should want to discover as much as possible regarding the managing agents as they can either make life much easier or uncomfortable. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the cleanliness of the communal areas. Enquire of prospective neighbours if they are happy with their management. Finally, find out the dates that you are obliged pay the maintenance charge to the managing agents and precisely how they are spending that money. This information is helpful as a) areas may result in problems in the block as the common areas may begin to deteriorate where repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have all the details