I want to rent out my leasehold apartment in Boxmoor. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Boxmoor conveyancing solicitor is no longer around 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 must seek consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining permission. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

My wife and I purchased a leasehold house in Boxmoor. Conveyancing and Bank of Ireland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Boxmoor who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Boxmoor conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of apartments in Boxmoor both have about fifty years remaining 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 Boxmoor is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability 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 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 Boxmoor 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 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.

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

If you are instructing a property lawyer for your lease extension (regardless if they are a Boxmoor conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Boxmoor conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

• How experienced is the firm with lease extension legislation?

What makes a Boxmoor lease problematic?

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

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• 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 primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Boxmoor Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying

You should want to discover as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the common parts. Enquire of prospective neighbours if they are happy with them. On a final note, investigate as to the dates that the service fees are due to the appropriate party and precisely how they are spending the funds. Make sure you find out if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Boxmoor. If you love the flatin Boxmoor yet your dog can’t move with you then you will be faced difficult choice. Please note that where the lease has less than 80 years it will affect the salability of the apartment. Check with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering what this would cost. For most Boxmoorlease extensions you will be required to have been the owner of the property for two years in order to be entitled to exercise a lease extension.

Other Topics

Lease Extensions in Boxmoor