Frank (my husband) and I may need to sub-let our Finchampstead 1st floor flat temporarily due to taking a sabbatical. We used a Finchampstead conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease dictates relations between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Finchampstead do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Planning to sign contracts shortly on a studio apartment in Finchampstead. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Finchampstead should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I am looking at a two flats in Finchampstead both have in the region of 50 years remaining on the lease term. Do I need to be concerned?

A lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to appointing a Finchampstead conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Finchampstead conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Finchampstead conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If the firm is not ALEP accredited then what is the reason?

Completion in due on the disposal of our £150000 garden flat in Finchampstead in just under a week. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Finchampstead?

Finchampstead conveyancing on leasehold flats more often than not necessitates the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.

Finchampstead Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

The answer will be important as a) areas could result in problems in the building as the communal areas may start to deteriorate if maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will want to know about it Who takes charge for maintaining and repairing the block? You will want to find out as much as you can regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the tidiness of the communal areas. You should not be afraid to ask prospective neighbours what they think of their management. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what you get for your money.

Other Topics

Lease Extensions in Finchampstead