I would like to rent out my leasehold apartment in Gamlingay. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A small minority of properties in Gamlingay do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I have just started marketing my 2 bed flat in Gamlingay.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – what should I do?

The sensible thing to do is pay 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 management companies will not acknowledge the buyer unless 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.

I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Gamlingay. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

The majority of houses in Gamlingay are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Gamlingay in which case you should be shopping around for a Gamlingay conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As 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 freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Gamlingay both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Gamlingay. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because 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 arena

Can you offer any advice when it comes to appointing a Gamlingay conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Gamlingay conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Gamlingay conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• What volume of lease extensions have they carried out in Gamlingay in the last 12 months?

I bought a garden flat in Gamlingay, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Gamlingay with a long lease are worth £209,000. The ground rent is £65 per annum. The lease terminates on 21st October 2090

With 65 years remaining on your lease we estimate the price of your lease extension to range between £15,200 and £17,600 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Gamlingay