Having had my offer accepted I require leasehold conveyancing in Greenfield. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Greenfield - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My partner and I may need to rent out our Greenfield basement flat temporarily due to a new job. We used a Greenfield conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Greenfield conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain permission from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without prior permission. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Greenfield. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Greenfield ?

The majority of houses in Greenfield are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Greenfield so you should seriously consider shopping around for a Greenfield conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

I am looking at a couple of maisonettes in Greenfield which have about 50 years unexpired on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Greenfield is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and lenders, leases with less than 75 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 premises 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 Greenfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

I am employed by a long established estate agent office in Greenfield where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Greenfield conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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 purchaser.

Greenfield Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying

Be sure to find out if there is anything that is prohibited in the lease. For example it is very common in Greenfield leases that pets are not permitted in certain buildings in Greenfield. If you like the flatin Greenfield however your cat is not allowed to make the move with you then you will be faced hard determination. Is there a share of the freehold? Are there any major works anticipated that could add a premium to the maintenance costs?

Other Topics

Lease Extensions in Greenfield