My fiance and I may need to let out our Coalville 1st floor flat temporarily due to a career opportunity. We instructed a Coalville conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates the relationship between the landlord and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Coalville do not contain subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Coalville. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Coalville ?

The majority of houses in Coalville are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Coalville so you should seriously consider shopping around for a Coalville conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I work for a long established estate agency in Coalville where we have experienced a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Coalville conveyancing solicitors. Could you clarify whether the owner of a flat can start the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Do you have any advice for leasehold conveyancing in Coalville with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Coalville can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
• Many landlords or Management Companies in Coalville charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Coalville.

In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Coalville leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. If you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer before hand.

If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.

If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a new share certificate can be a lengthy formality and frustrates many a Coalville conveyancing transaction. Where a duplicate share certificate is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £275000 garden flat in Coalville next week. The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Coalville?

For most leasehold sales in Coalville conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract enquiries
• Where consent is required before sale in Coalville
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Coalville leasehold property is £350. For Coalville conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

I am the registered owner of a studio flat in Coalville, conveyancing formalities finalised 7 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Coalville with an extended lease are worth £259,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2078

With only 53 years unexpired the likely cost is going to be between £38,000 and £44,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Coalville