I wish to let out my leasehold apartment in Ferndale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease dictates the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Ferndale do not prevent subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I have just appointed agents to market my 2 bed apartment in Ferndale.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – what should I do?

It best that you clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2000, I bought a leasehold flat in Ferndale. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Ferndale who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Ferndale conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a long established estate agent office in Ferndale where we have witnessed a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Ferndale conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 buyer.

Are there common defects that you encounter in leases for Ferndale properties?

There is nothing unique about leasehold conveyancing in Ferndale. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Leasehold Conveyancing in Ferndale - A selection of Queries before buying

Is the freehold reversion owned jointly by the leaseholders? The prefered form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees benefit from control and even though a managing agent is often employed where it is bigger than a house conversion, the managing agent is directed by the tenants. Be sure to discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Ferndale. If you love the apartmentin Ferndale but your dog is not allowed to make the move with you then you will be faced difficult decision.

Other Topics

Lease Extensions in Ferndale