I wish to let out my leasehold apartment in Cotham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

The lease dictates the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Cotham do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I have just started marketing my 2 bed apartment in Cotham.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – what should I do?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Cotham. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Cotham ?

Most houses in Cotham are freehold and not 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 Cotham so you should seriously consider shopping around for a Cotham conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am employed by a busy estate agent office in Cotham where we have experienced a few flat sales jeopardised due to short leases. I have received contradictory information from local Cotham conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner 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 wait 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.

Alternatively, it may be possible 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 buyer.

Do you have any advice for leasehold conveyancing in Cotham with the intention of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Cotham can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
• The majority landlords or Management Companies in Cotham charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Cotham.
• 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 Cotham state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you dont have the consents in place do not contact the landlord without contacting your lawyer first.
• If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Cotham Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

The answer will be helpful as a) areas may cause problems for the building as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the managing agents you will wish to have all the details