I am intending to sublet my leasehold flat in Crabtree. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Your lease dictates the relationship between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Crabtree do not contain strict prohibition on subletting – 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 copy of the tenancy agreement.

I have recently realised that I have 72 years unexpired on my flat in Crabtree. I now wish to extend my lease but my freeholder is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the freeholder. In some cases a specialist should be useful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Crabtree.

Planning to sign contracts shortly on a ground floor flat in Crabtree. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Crabtree should include some of the following:

• Whether the lease restricts you from subletting the flat, or working from home

I am tempted by the attractive purchase price for a two maisonettes in Crabtree which have in the region of forty five years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Crabtree is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most buyers and mortgage companies, leases with less than 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 a residence 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 Crabtree conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.

What advice can you give us when it comes to choosing a Crabtree conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Crabtree conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Crabtree conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If they are not ALEP accredited then what is the reason?

Crabtree Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

You should be aware that where the lease has no more than 80 years it will affect the value of the apartment. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you would be be obliged to have owned the residence for 24 months in order to be legally able to exercise a lease extension. Is the freehold owned collectively by the tenants? Are there any major works in the near future that will likely add a premium to the maintenance costs?

Other Topics

Lease Extensions in Crabtree