Frank (my husband) and I may need to rent out our Irby basement flat for a while due to a new job. We used a Irby conveyancing firm in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Even though your previous Irby conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission from your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of prior permission. The consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I have just appointed agents to market my basement apartment in Irby.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – Do I pay up?

The sensible thing to do is discharge the service charge 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 managing agents will not acknowledge the buyer until 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 appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Irby. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Irby are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Irby in which case you should be looking for a Irby conveyancing practitioner 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. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a couple of flats in Irby both have in the region of fifty years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Irby is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with under 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 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 Irby 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 Irby conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Irby conveyancing practice) it is essential 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 Irby 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:

• If they are not ALEP accredited then why not?

Irby Leasehold Conveyancing - Examples of Questions you should consider before buying

The majority of Irby leasehold properties will have a service charge for the upkeep of the block levied by the management company. Should you buy the property you will have to pay this charge, normally periodically throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent to be met annual, this is usually not a large amount, say approximately £25-£75 but you need to enquire as on occasion it can be surprisingly expensive. How is the lease structured? How many of the leaseholders are in arrears for their service charge payments?

Other Topics

Lease Extensions in Irby