I want to rent out my leasehold apartment in Blandfordum. 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 Blandfordum conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek consent from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of prior consent. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I only have 68 years remaining on my lease in Blandfordum. I need to extend my lease but my landlord is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. In some cases an enquiry agent may be helpful to carry out a search and to produce an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Blandfordum.

I own a leasehold house in Blandfordum. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Blandfordum who acted for me is not around.What should I do?

First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Blandfordum conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two apartments in Blandfordum both have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Blandfordum is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with under 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 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 Blandfordum conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

I work for a reputable estate agency in Blandfordum where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Blandfordum conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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 purchaser.

I bought a studio flat in Blandfordum, conveyancing formalities finalised 6 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Blandfordum with over 90 years remaining are worth £206,000. The ground rent is £55 charged once a year. The lease ceases on 21st October 2079

With just 53 years remaining on your lease we estimate the price of your lease extension to range between £32,300 and £37,400 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.