Jane (my partner) and I may need to rent out our Holsworthy ground floor flat temporarily due to a new job. We instructed a Holsworthy conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

The lease governs the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Holsworthy do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I am hoping to exchange soon on a ground floor flat in Holsworthy. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Holsworthy 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 not letting the lease term falling below eighty years
• The total extent of the property. This will be the property itself but could also incorporate a roof space or cellar if applicable.
• Setting out your legal entitlements in respect of common areas in the building.By way of example, does the lease grant a right of way over a path or staircase?
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Responsibility for repairing the window frames
• What you can do if a neighbour breach a clause of their lease?

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Holsworthy. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Holsworthy are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Holsworthy in which case you should be looking for a Holsworthy conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am attracted to a two apartments in Holsworthy which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Holsworthy is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and banks, 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 Holsworthy 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.

What are the common problems that you see in leases for Holsworthy properties?

Leasehold conveyancing in Holsworthy is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

Holsworthy Conveyancing for Leasehold Flats - Examples of Queries before buying

On the whole the cost for major works are not included within service charges, albeit that a few managing agents in Holsworthy obliged leasehold owners to contribute towards a reserve fund and this is used to offset against major repairs or maintenance. How much is the annual service fee and ground rent?