My wife and I may need to rent out our Llanelli basement flat for a while due to a career opportunity. We instructed a Llanelli conveyancing practice in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Llanelli conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you must seek consent from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I am tempted by the attractive purchase price for a two flats in Llanelli both have in the region of 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Llanelli is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and banks, leases with less than 75 years become less and less marketable. 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 Llanelli 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 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 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.

What are your top tips when it comes to finding a Llanelli conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Llanelli conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Llanelli conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• If the firm is not ALEP accredited then what is the reason?

All being well we will complete the sale of our £450000 apartment in Llanelli next week. The landlords agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Llanelli?

Llanelli conveyancing on leasehold flats usually involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

What makes a Llanelli lease unmortgageable?

There is nothing unique about leasehold conveyancing in Llanelli. All leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I purchased a split level flat in Llanelli, conveyancing having been completed in 2007. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Llanelli with an extended lease are worth £187,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2082

With only 56 years unexpired we estimate the premium for your lease extension to span between £24,700 and £28,600 as well as costs.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Llanelli