Harry (my fiance) and I may need to rent out our Kimbolton basement flat for a while due to a new job. We used a Kimbolton conveyancing firm in 2004 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?

Even though your previous Kimbolton conveyancing lawyer is no longer around you can review your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must obtain permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior consent. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.

I’m about to sell my ground floor flat in Kimbolton.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 seems to tick a lot of boxes, at a great price which is making it more attractive. I have since found out 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 Kimbolton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Kimbolton ?

Most houses in Kimbolton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Kimbolton so you should seriously consider shopping around for a Kimbolton conveyancing solicitor and check that they have experience in advising on leasehold houses. First 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 requiring the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.

Last month I purchased a leasehold house in Kimbolton. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a long established estate agency in Kimbolton where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Kimbolton conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner 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 need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

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 buyer.

Leasehold Conveyancing in Kimbolton - Sample of Queries Prior to buying

Where a Kimbolton lease has fewer than 80 years it will have adverse implications on the marketability of the property. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering what this will be. For most Kimboltonlease extensions you will need to own the premises for a couple of years in order to be eligible to exercise a lease extension. How is the lease structured? It is important to be aware if fixing the lift or some other significant cost is due in the foreseeable future that will be shared by the leaseholders and will materially impact the level of the maintenance fees or result in a specific invoice.

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Lease Extensions in Kimbolton