My wife and I may need to rent out our Grangetown 1st floor flat temporarily due to taking a sabbatical. We instructed a Grangetown conveyancing firm in 2001 but they have closed 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?

A lease dictates the relationship between the freeholder and you the leaseholder; 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 expres ban or restriction, subletting is allowed. The majority of leases in Grangetown do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I am hoping to complete next month on a ground floor flat in Grangetown. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Grangetown should include some of the following:

• You should be sent a copy of the lease

I am attracted to a couple of apartments in Grangetown which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold flat in Grangetown. Do I have any liability for service charges for periods before my ownership?

In a situation 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 be sure 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).

I am employed by a busy estate agency in Grangetown where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Grangetown conveyancing firms. Please can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Grangetown - Examples of Questions you should ask before Purchasing

It is important to be aware whether changing the roof or some other major work is due shortly to be shared between the tenants and may well materially impact the level of the service fees or require a specific invoice. The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this scenario the lessees have control and notwithstanding that a managing agent is often employed if it is larger than a house conversion, the managing agent employed by the leaseholders. It would be wise to discover as much as you can about the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to daily matters such as the upkeep of the communal areas. Don't be shy to ask other tenants what they think of their service. Finally, find out the dates that the service charges are due to the relevant party and specifically what you get for your money.

Other Topics

Lease Extensions in Grangetown