Frank (my husband) and I may need to sub-let our Leominster garden flat temporarily due to a new job. We instructed a Leominster conveyancing firm in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

A lease dictates relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Leominster do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Due to complete next month on a leasehold property in Leominster. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Leominster should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Leominster. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Leominster ?

Most houses in Leominster are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Leominster so you should seriously consider looking for a Leominster conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am attracted to a two apartments in Leominster both have about 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Leominster is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with less than eighty 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 property 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 premises 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 Leominster 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 any new 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £275000 maisonette in Leominster in nine days. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Leominster?

Leominster conveyancing on leasehold flats often necessitates the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

I own a leasehold flat in Leominster, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Leominster with an extended lease are worth £205,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2078

With 53 years unexpired we estimate the premium for your lease extension to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above 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 a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Leominster