I would like to sublet my leasehold apartment in Cross Hands. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Cross Hands do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse 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.

I have just started marketing my 2 bed flat in Cross Hands.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of apartments in Cross Hands which have about forty five years remaining on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Cross Hands is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and banks, leases with under eighty years become less and less marketable. 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 Cross Hands 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.

I am employed by a reputable estate agent office in Cross Hands where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Cross Hands conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Can you offer any advice when it comes to choosing a Cross Hands conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Cross Hands conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Cross Hands conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• What volume of lease extensions have they completed in Cross Hands in the last year?

Cross Hands Leasehold Conveyancing - Examples of Queries before buying

This question is helpful as a) areas can cause problems for the block as the common areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have all the details Are any of leasehold owners in arrears of their service charge liability? The best form of lease arrangement is a share of the freehold. In this scenario the leaseholders have being in charge if their destiny and although a managing agent is usually employed where the building is bigger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Cross Hands