My husband and I may need to sub-let our Croston basement flat for a while due to a career opportunity. We used a Croston conveyancing practice in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Croston conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.

I only have Fifty years left on my lease in Croston. I am keen to extend my lease but my landlord is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. On the whole a specialist should be helpful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Croston.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Croston. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Croston ?

Most houses in Croston are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Croston in which case you should be looking for a Croston conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Croston both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Croston is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with under 75 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 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 Croston 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 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 Croston where we have experienced a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local Croston conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 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 at the same time as 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 purchaser.

I own a ground floor flat in Croston, conveyancing was carried out 3 years ago. How much will my lease extension cost? Similar properties in Croston with an extended lease are worth £170,000. The ground rent is £60 invoiced every year. The lease runs out on 21st October 2088

With only 63 years unexpired the likely cost is going to range between £18,100 and £20,800 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

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Lease Extensions in Croston