I am intending to let out my leasehold flat in Farnham Common. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Farnham Common do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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 permission.

There are only 72 years unexpired on my lease in Farnham Common. I now wish to extend my lease but my landlord is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations a specialist may be helpful to conduct investigations and to produce an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Farnham Common.

I am attracted to a couple of flats in Farnham Common both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Farnham Common is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. 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 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 property 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 Farnham Common 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.

What are your top tips when it comes to choosing a Farnham Common conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Farnham Common conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Farnham Common conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• Can they put you in touch with client in Farnham Common who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Farnham Common with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Farnham Common can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
• The majority landlords or Management Companies in Farnham Common charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Farnham Common.

Farnham Common Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

What prohibitions are there in the Farnham Common Lease? Generally speaking the cost for major works tend not to be incorporated into the maintenance charges, although some managing agents in Farnham Common obliged leasehold owners to pay into a reserve fund created for the specific purpose of establishing a fund for larger works. You should be aware if it is less than eighty years it will affect the value of the flat. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will probably have to extend the lease at some point and it is worth discovering how much this would cost. For most Farnham Commonlease extensions you would need to own the property for two years before you are legally able to exercise a lease extension.

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Lease Extensions in Farnham Common