I wish to sublet my leasehold flat in Ebbw Vale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your previous Ebbw Vale conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to obtain permission from your landlord or some other party before subletting. This means you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably withheld. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I only have Sixty One years unexpired on my lease in Ebbw Vale. I need to extend my lease but my landlord is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent may be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Ebbw Vale.

I am hoping to sign contracts shortly on a leasehold property in Ebbw Vale. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

Back In 2009, I bought a leasehold flat in Ebbw Vale. Conveyancing and Virgin Money mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Ebbw Vale who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Ebbw Vale conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two flats in Ebbw Vale which have approximately forty five years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Ebbw Vale is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most buyers and lenders, leases with less than 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 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 Ebbw Vale 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I purchased a studio flat in Ebbw Vale, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Ebbw Vale with an extended lease are worth £203,000. The ground rent is £60 charged once a year. The lease terminates on 21st October 2094

With just 70 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account 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 seeking the advice of a professional.

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Lease Extensions in Ebbw Vale