My husband and I may need to rent out our Ferryside garden flat temporarily due to taking a sabbatical. We used a Ferryside conveyancing practice in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Ferryside conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to obtain permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Ferryside. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Ferryside ?

The majority of houses in Ferryside are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Ferryside in which case you should be shopping around for a Ferryside conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.

I own a leasehold flat in Ferryside. Conveyancing and Barclays mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Ferryside who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Ferryside conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Ferryside which have about 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Ferryside. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in Ferryside from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Ferryside can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
• The majority landlords or managing agents in Ferryside charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Ferryside.
• If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a time consuming formality and frustrates many a Ferryside conveyancing deal. Where a duplicate share is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I inherited a 1st floor flat in Ferryside, conveyancing having been completed in 2003. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Ferryside with a long lease are worth £252,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2098

With 72 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.