Harry (my fiance) and I may need to sub-let our Llanbedrgoch 1st floor flat for a while due to a new job. We instructed a Llanbedrgoch conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Llanbedrgoch conveyancing lawyer is no longer available you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of prior consent. The consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I only have Fifty years left on my flat in Llanbedrgoch. I now want to extend my lease but my landlord 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 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 prove that you or your lawyers have used your best endeavours to find the lessor. For most situations an enquiry agent should be useful to try and locate and to produce a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Llanbedrgoch.

I have just appointed agents to market my garden flat in Llanbedrgoch.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you pay 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 managing agents 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 hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Llanbedrgoch. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Llanbedrgoch are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Llanbedrgoch in which case you should be shopping around for a Llanbedrgoch conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Llanbedrgoch both have about forty five years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Llanbedrgoch is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less attractive. 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 property 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 Llanbedrgoch 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.

I bought a 1 bedroom flat in Llanbedrgoch, conveyancing formalities finalised in 2012. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Llanbedrgoch with over 90 years remaining are worth £269,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2079

With 54 years unexpired we estimate the price of your lease extension to range between £37,100 and £42,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Llanbedrgoch