Helen (my wife) and I may need to rent out our Bethesda basement flat temporarily due to a new job. We instructed a Bethesda conveyancing practice in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Bethesda do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Bethesda. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Bethesda ?

The majority of houses in Bethesda are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Bethesda in which case you should be looking for a Bethesda conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. 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 contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.

I am looking at a two flats in Bethesda which have approximately fifty years unexpired on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Bethesda is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most buyers and lenders, leases with less than eighty years become less and less attractive. 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 property 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 Bethesda 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 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.

What are your top tips when it comes to appointing a Bethesda conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Bethesda conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Bethesda conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How many lease extensions has the firm carried out in Bethesda in the last twenty four months?

Can you provide any advice for leasehold conveyancing in Bethesda with the intention of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Bethesda can be bypassed if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
• If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Bethesda leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you fail to have the approvals in place do not communicate with the landlord without contacting your lawyer in the first instance.

I own a 1 bedroom flat in Bethesda, conveyancing formalities finalised 3 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 flats in Bethesda with a long lease are worth £206,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2079

With only 54 years left to run the likely cost is going to range between £28,500 and £33,000 plus legals.

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 comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Bethesda