My wife and I may need to rent out our Lavenham 1st floor flat for a while due to a career opportunity. We instructed a Lavenham conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Lavenham do not contain subletting altogether – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Having checked my lease I have discovered that there are only 72 years remaining on my lease in Lavenham. I now want to extend my lease but my freeholder is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the landlord. On the whole an enquiry agent should be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Lavenham.

I am looking at a two apartments in Lavenham which have approximately 50 years left on the lease term. Will this present a problem?

There are plenty of short leases in Lavenham. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

Do you have any advice for leasehold conveyancing in Lavenham from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Lavenham can be reduced if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
• Many freeholders or managing agents in Lavenham levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Lavenham.

All being well we will complete the sale of our £175000 flat in Lavenham next week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Lavenham?

Lavenham conveyancing on leasehold flats more often than not necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I inherited a 1 bedroom flat in Lavenham, conveyancing having been completed 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Lavenham with an extended lease are worth £262,000. The ground rent is £60 invoiced every year. The lease finishes on 21st October 2087

With 62 years unexpired we estimate the price of your lease extension to be between £20,900 and £24,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

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Lease Extensions in Lavenham