Jane (my partner) and I may need to rent out our Gamlingay basement flat for a while due to taking a sabbatical. We used a Gamlingay conveyancing firm in 2003 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 freeholder and you the flat owner; in particular, it will set out if subletting is not allowed, 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. The majority of leases in Gamlingay do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

There are only 72 years remaining on my flat in Gamlingay. I am keen to extend my lease but my landlord is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the lessor. On the whole a specialist should be useful to conduct investigations and to produce a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Gamlingay.

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Gamlingay. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Gamlingay ?

Most houses in Gamlingay are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Gamlingay in which case you should be looking for a Gamlingay conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.

My wife and I purchased a leasehold house in Gamlingay. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Gamlingay who acted for me is not around.Any advice?

First contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Gamlingay conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Gamlingay both have in the region of 50 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 Gamlingay is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and mortgage companies, leases with less than eighty years become less and less attractive. 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 property 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 Gamlingay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.

Leasehold Conveyancing in Gamlingay - Sample of Queries Prior to Purchasing

Is anyone aware of any major works on the horizon that will increase the maintenance fees? Please note that where the lease has less than eighty years it will affect the marketability of the property. It is worth checking with your mortgage company that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you will be be obliged to have been the owner of the residence for 24 months before you are legally able to extend the lease. The best form of lease structure is where the freehold title is owned by the leaseholders. In this arrangement the leaseholders have control and even though a managing agent is often employed where the building is larger than a house conversion, the managing agent is directed by the tenants.

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Lease Extensions in Gamlingay