I am intending to rent out my leasehold flat in Cross Hands. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your previous Cross Hands conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you must obtain consent via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I own a leasehold flat in Cross Hands. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Cross Hands who previously acted has long since retired.Do I pay?

First make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Cross Hands conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of flats in Cross Hands which have in the region of 50 years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Cross Hands is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with under 75 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 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 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 Cross Hands 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 are your top tips when it comes to choosing a Cross Hands conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Cross Hands conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Cross Hands conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

All being well we will complete the sale of our £475000 maisonette in Cross Hands in just under a week. The management company has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cross Hands?

Cross Hands conveyancing on leasehold apartments often requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions most will be content to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.

I invested in buying a leasehold flat in Cross Hands, conveyancing was carried out 9 years ago. How much will my lease extension cost? Corresponding flats in Cross Hands with an extended lease are worth £175,000. The ground rent is £55 per annum. The lease ends on 21st October 2080

With just 55 years unexpired we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Cross Hands