My wife and I may need to sub-let our Formby garden flat for a while due to taking a sabbatical. We used a Formby conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease governs the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Formby do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Due to exchange soon on a basement flat in Formby. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

Whether the lease restricts you from letting out the property, or having a home office for business

You should have a good understanding of the insurance provisions

Changes to the flat (alterations and additions)

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Formby please ask your conveyancer in advance of your conveyancing in Formby

I have just appointed agents to market my 2 bed apartment in Formby.Conveyancing has not commenced but I have just had a yearly service charge invoice – Do I pay up?

The sensible thing to do is clear the service charge 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 management companies 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. This will smooth the conveyancing process.

Last month I purchased a leasehold house in Formby. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

All being well we will complete the disposal of our £175000 garden flat in Formby on Monday in a week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Formby?

Formby conveyancing on leasehold maisonettes nine out of ten times results in fees being raised by managing agents :

• Completing pre-exchange enquiries
• Where consent is required before sale in Formby
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Formby leasehold property is £350. For Formby conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

I own a studio flat in Formby, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Formby with over 90 years remaining are worth £243,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2095

With only 70 years left to run we estimate the premium for your lease extension to span between £11,400 and £13,200 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Formby