I wish to let out my leasehold flat in Filey. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Even though your last Filey conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining permission. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my basement apartment in Filey.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you discharge 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 until 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 2004, I bought a leasehold house in Filey. Conveyancing and Alliance & Leicester mortgage organised. 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 practitioner in Filey who acted for me is not around.What should I do?

First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Filey conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of maisonettes in Filey which have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Filey is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and mortgage companies, leases with less than 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 Filey 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 Filey conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Filey conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Filey conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?

Filey Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

The majority of Filey leasehold properties will incur a service bill for the upkeep of the building set on behalf of the freeholder. Where you buy the property you will have to meet this charge, normally quarterly during the year. This may differ from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent for you to pay annual, this is usually not a significant sum, say approximately £25-£75 but you should to check it because sometimes it could be many hundreds of pounds. What is the length of the lease? How much is the maintenance charge and ground rent on the apartment?

Other Topics

Lease Extensions in Filey