I am in need of some leasehold conveyancing in Clowne. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Clowne - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My wife and I may need to let out our Clowne garden flat for a while due to a new job. We used a Clowne conveyancing practice in 2001 but they have closed 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?

Notwithstanding that your last Clowne conveyancing solicitor is not available you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent should not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Clowne. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Clowne are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Clowne in which case you should be shopping around for a Clowne conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

Back In 2009, I bought a leasehold flat in Clowne. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Clowne who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Clowne conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, 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 couple of flats in Clowne which have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Clowne is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most buyers 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 premises 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 Clowne 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 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.

Clowne Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

What is the the remaining lease term? Please note that where the lease has no more than 80 years it will impact the salability of the apartment. Check with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you will need to own the property for a couple of years in order to be eligible to carry out a lease extension. The answer will be important as a) areas could result in problems for the block as the communal areas may start to deteriorate if repairs are not paid for b) if the tenants have an issue with the running of the building you will wish to have complete disclosure

Other Topics

Lease Extensions in Clowne