I am intending to sublet my leasehold flat in Leighton Buzzard. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Leighton Buzzard conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I have recently realised that I have Fifty years remaining on my lease in Leighton Buzzard. I now want to get lease extension but my freeholder is absent. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the lessor. For most situations a specialist may be useful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Leighton Buzzard.

Back In 2002, I bought a leasehold flat in Leighton Buzzard. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Leighton Buzzard who previously acted has now retired.What should I do?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Leighton Buzzard conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Leighton Buzzard which have about fifty years left on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

I work for a reputable estate agent office in Leighton Buzzard where we have experienced a few flat sales derailed as a result of short leases. I have been given inconsistent advice from local Leighton Buzzard conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.

I acquired a 2 bed flat in Leighton Buzzard, conveyancing formalities finalised in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Leighton Buzzard with an extended lease are worth £259,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2080

With just 55 years remaining on your lease the likely cost is going to span between £34,200 and £39,600 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Leighton Buzzard