I am intending to let out my leasehold flat in Ely. 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 last Ely conveyancing lawyer is no longer around you can check your lease to check if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Ely. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Ely are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Ely in which case you should be shopping around for a Ely conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.

I am looking at a two apartments in Ely both have about 50 years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Ely is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under eighty 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 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 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 Ely 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've recently bought a leasehold property in Ely. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to finding a Ely conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Ely conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Ely conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• What volume of lease extensions has the firm carried out in Ely in the last 12 months?
• What are the charges for lease extension work?

Ely Leasehold Conveyancing - Examples of Queries before buying

The answer will be useful as a) areas can cause problems in the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have all the details Are there any major works anticipated that will likely add a premium to the service charges? How much is the ground rent and service charge?