I am intending to let out my leasehold apartment in Cradley Heath. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in Cradley Heath do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Due to exchange soon on a leasehold property in Cradley Heath. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

I have just appointed agents to market my basement flat in Cradley Heath.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the invoice 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 management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a couple of maisonettes in Cradley Heath which have about 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Cradley Heath is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Cradley Heath 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

What advice can you give us when it comes to finding a Cradley Heath conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Cradley Heath conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Cradley Heath conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• If the firm is not ALEP accredited then what is the reason?

Cradley Heath Leasehold Conveyancing - Examples of Queries before buying

In the main the outlay for major works tend not to be incorporated into the maintenance charges, albeit that some managing agents in Cradley Heath require tenants to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. Make sure you enquire if there are any onerous prohibitions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Cradley Heath. If you like the flatin Cradley Heath however your dog can’t move with you then you will be presented with a difficult compromise. It would be wise to find out as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to every day issues like the tidiness of the communal areas. Enquire of other tenants what they think of them. Finally, be sure you discover the dates that the maintenance charges are due to the managing agents and precisely how they are spending that money.

Other Topics

Lease Extensions in Cradley Heath