I would like to let out my leasehold apartment in Liskeard. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Your lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Liskeard do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I only have Fifty years left on my lease in Liskeard. I now want to get lease extension but my freeholder is absent. What options are available to me?

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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the freeholder. For most situations an enquiry agent may be helpful to try and locate and to produce a report 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 solicitor both on proving the landlord’s absence and the application to the County Court overseeing Liskeard.

I am hoping to complete next month on a garden flat in Liskeard. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Liskeard should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years

I've recently bought a leasehold house in Liskeard. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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 reputable estate agency in Liskeard where we have experienced a few leasehold sales derailed due to short leases. I have received contradictory information from local Liskeard conveyancing solicitors. Can you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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.

I invested in buying a basement flat in Liskeard, conveyancing was carried out in 1998. How much will my lease extension cost? Similar flats in Liskeard with a long lease are worth £265,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2083

With just 59 years remaining on your lease we estimate the price of your lease extension to range between £23,800 and £27,400 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Liskeard