My wife and I may need to rent out our Lingfield garden flat for a while due to taking a sabbatical. We instructed a Lingfield conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Lingfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I have just started marketing my 2 bed apartment in Lingfield.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is clear the invoice 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 attracted to a couple of flats in Lingfield both have about fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Lingfield is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive 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 a residence 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 Lingfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Can you offer any advice when it comes to appointing a Lingfield conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Lingfield conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Lingfield conveyancing practices before you 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 what is the reason?

In relation to leasehold conveyancing in Lingfield what are the most frequent lease problems?

Leasehold conveyancing in Lingfield is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

Lingfield Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

The best form of lease structure is a share of the freehold. In this scenario the leaseholders have control and although a managing agent is usually retained if it is bigger than a house conversion, the managing agent retained by the leaseholders. Where a Lingfield lease has no more than 80 years it will affect the marketability of the flat. Check with your lender that they are content with residual term of the lease. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Lingfieldlease extensions you will be be obliged to have been the owner of the premises for 24 months in order to be eligible to extend the lease. You will want to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the upkeep of the communal areas. Don't be afraid to ask other tenants what they think of their management. In conclusion, be sure you know the dates that the service fees are due to the relevant party and specifically what you get for your money.

Other Topics

Lease Extensions in Lingfield