My wife and I may need to rent out our Curdworth 1st floor flat for a while due to a career opportunity. We instructed a Curdworth conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Curdworth 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 consent.

Having checked my lease I have discovered that there are only 72 years remaining on my lease in Curdworth. I now want to extend my lease but my freeholder is can not be found. What are my options?

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 an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the landlord. On the whole an enquiry agent should be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Curdworth.

I am looking at a two apartments in Curdworth which have approximately 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Curdworth is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and banks, 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 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 Curdworth 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 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.

Do you have any advice for leasehold conveyancing in Curdworth from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Curdworth can be reduced if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
• Many freeholders or managing agents in Curdworth levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Curdworth.

All being well we will complete the sale of our £175000 flat in Curdworth next week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Curdworth?

Curdworth conveyancing on leasehold flats more often than not necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I inherited a 1 bedroom flat in Curdworth, conveyancing having been completed 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Curdworth with an extended lease are worth £262,000. The ground rent is £60 invoiced every year. The lease finishes on 21st October 2087

With 62 years unexpired we estimate the price of your lease extension to be between £20,900 and £24,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Curdworth