My wife and I may need to let out our Ireleth and Askam basement flat temporarily due to a career opportunity. We used a Ireleth and Askam conveyancing firm in 2004 but they have closed 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?

Your lease governs relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Ireleth and Askam do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I’m about to sell my ground floor flat in Ireleth and Askam.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

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 management companies will not acknowledge the buyer unless 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 am looking at a two flats in Ireleth and Askam which have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Ireleth and Askam. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to appointing a Ireleth and Askam conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Ireleth and Askam conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Ireleth and Askam conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If the firm is not ALEP accredited then why not?

What makes a Ireleth and Askam lease problematic?

There is nothing unique about leasehold conveyancing in Ireleth and Askam. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements 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 issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I acquired a leasehold flat in Ireleth and Askam, conveyancing having been completed in 1998. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Ireleth and Askam with over 90 years remaining are worth £254,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2087

You have 62 years left to run we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Ireleth and Askam