My fiance and I may need to rent out our Buckingham ground floor flat for a while due to taking a sabbatical. We used a Buckingham conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Buckingham conveyancing solicitor is no longer around you can review your lease to see if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining permission. Such consent is not allowed to be unreasonably turned down. 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 have recently realised that I have Fifty years remaining on my flat in Buckingham. I need to extend my lease but my landlord is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. For most situations a specialist would be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Buckingham.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Buckingham. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Buckingham ?

The majority of houses in Buckingham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Buckingham in which case you should be looking for a Buckingham conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

Do you have any top tips for leasehold conveyancing in Buckingham from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Buckingham can be avoided if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
• Many freeholders or Management Companies in Buckingham charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Buckingham.
• If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Buckingham state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such alterations. Should you dont have the paperwork in place you should not contact the landlord without checking with your solicitor first.
• If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and slows down many a Buckingham conveyancing deal. Where a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

In relation to leasehold conveyancing in Buckingham what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Buckingham. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

I purchased a 2 bed flat in Buckingham, conveyancing formalities finalised in 2007. How much will my lease extension cost? Similar flats in Buckingham with an extended lease are worth £183,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2089

With only 63 years left to run we estimate the premium for your lease extension to span between £19,000 and £22,000 as well as costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. 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. Neither should you take any other action based on this information without first getting professional advice.