Frank (my husband) and I may need to sub-let our Hermitage 1st floor flat for a while due to a career opportunity. We instructed a Hermitage conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Hermitage do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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.

Looking forward to complete next month on a basement flat in Hermitage. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Hermitage. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Hermitage are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Hermitage so you should seriously consider shopping around for a Hermitage conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of flats in Hermitage both have in the region of forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Hermitage is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat 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 property 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 Hermitage 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

What are your top tips when it comes to appointing a Hermitage conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Hermitage conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Hermitage conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?

Leasehold Conveyancing in Hermitage - Sample of Queries before Purchasing

Please tell me if there are any major works anticipated that will increase the service fees? How many of the leaseholders are in arrears for their maintenance charge payments? If a Hermitage lease has less than eighty years it will impact the value of the flat. It is worth checking with your lender that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would be required to have been the owner of the premises for two years in order to be eligible to extend the lease.

Other Topics

Lease Extensions in Hermitage