I wish to sublet my leasehold apartment in City Of London. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last City Of London conveyancing solicitor is not available you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to obtain permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of prior permission. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Expecting to complete next month on a ground floor flat in City Of London. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in City Of London should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Defining your rights in respect of the communal areas in the building.E.G., does the lease provide for a right of way over a path or staircase?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• What options are open to you if a neighbour is in violation of a provision in their lease?

I am tempted by the attractive purchase price for a two flats in City Of London which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in City Of London. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

What are your top tips when it comes to finding a City Of London conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a City Of London conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non City Of London conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How many lease extensions have they conducted in City Of London in the last year?
• Can they put you in touch with client in City Of London who can give a testimonial?

Are there frequently found problems that you come across in leases for City Of London properties?

There is nothing unique about leasehold conveyancing in City Of London. Most leases are individual and drafting errors can sometimes mean that 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 elements of the building
• 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 could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, 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 does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in City Of London - Sample of Queries Prior to Purchasing

How much is the yearly service fee and ground rent? Its a good idea to find out as much as possible about the managing agents as they can either make your living at the property much simpler or much more difficult. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the upkeep of the communal areas. You should not be shy to ask other tenants if they are happy with their service. On a final note, find out the dates that the service fees are due to the managing agents and specifically what it includes.