Jane (my partner) and I may need to rent out our Dursley garden flat for a while due to a career opportunity. We used a Dursley conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Dursley conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I am hoping to sign contracts shortly on a studio apartment in Dursley. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

I am hoping to put an offer on a small detached house that appears to be perfect, at a great price 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 issues buying a leasehold house in Dursley. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Dursley are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Dursley in which case you should be looking for a Dursley conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am looking at a couple of maisonettes in Dursley which have in the region of 50 years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Dursley is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of purchasers and lenders, leases with less than 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 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 Dursley 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 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 appointing a Dursley conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Dursley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Dursley conveyancing practices before you 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 practice with lease extension legislation?

Dursley Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying

You should be aware if it is less than 80 years it will affect the marketability of the apartment. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and you need to have some idea of what this would cost. For most Dursleylease extensions you would need to own the residence for 24 months before you are legally able to extend the lease. The prefered form of lease structure is a share of the freehold. In this situation the tenants enjoy control and notwithstanding that a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. How is the lease structured?

Other Topics

Lease Extensions in Dursley