Jane (my partner) and I may need to let out our Farnham garden flat for a while due to taking a sabbatical. We instructed a Farnham conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Farnham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to 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.

I only have Seventy years remaining on my flat in Farnham. I now want to get lease extension but my landlord is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the lessor. In some cases an enquiry agent may be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Farnham.

Due to exchange soon on a basement flat in Farnham. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Farnham 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 attracted to a couple of flats in Farnham which have about forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Farnham. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

What makes a Farnham lease defective?

Leasehold conveyancing in Farnham is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

I invested in buying a leasehold flat in Farnham, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Farnham with a long lease are worth £205,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2092

You have 67 years unexpired we estimate the price of your lease extension to range between £12,400 and £14,200 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Farnham