My wife and I may need to sub-let our Ebbw Vale ground floor flat for a while due to a career opportunity. We instructed a Ebbw Vale conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

The lease governs the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Ebbw Vale do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Due to sign contracts shortly on a leasehold property in Ebbw Vale. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Ebbw Vale should include some of the following:

• You should be sent a copy of the lease

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Ebbw Vale. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Ebbw Vale are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Ebbw Vale in which case you should be shopping around for a Ebbw Vale conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am a negotiator for a reputable estate agency in Ebbw Vale where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Ebbw Vale conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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.

What makes a Ebbw Vale lease unmortgageable?

Leasehold conveyancing in Ebbw Vale is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Skipton Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

Ebbw Vale Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

Are any of leasehold owners in arrears of their service charge payments? It would be prudent to find out as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the common parts. Enquire of other people if they are happy with them. On a final note, find out the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. Make sure you find out if there are any onerous prohibitions in the lease. For example it is reasonably common in Ebbw Vale leases that pets are not allowed in certain buildings in Ebbw Vale. If you like the propertyin Ebbw Vale yet your dog is not allowed to move with you then you will be faced difficult determination.

Other Topics

Lease Extensions in Ebbw Vale