I wish to sublet my leasehold apartment in Aldwych. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Some leases for properties in Aldwych do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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 permission.

There are only 68 years unexpired on my flat in Aldwych. I am keen to extend my lease but my landlord is absent. What should I do?

On the basis that you qualify, 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 extended by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent may be helpful to carry out a search and prepare a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Aldwych.

My wife and I purchased a leasehold flat in Aldwych. Conveyancing and Britannia mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Aldwych who previously acted has now retired.What should I do?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Aldwych conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

There is no doubt about it. A leasehold flat in Aldwych is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and lenders, 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 premises 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 Aldwych 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 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.

Do you have any top tips for leasehold conveyancing in Aldwych with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Aldwych can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Aldwych leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such works. If you fail to have the consents in place do not communicate with the landlord without checking with your conveyancer before hand.
• Some Aldwych leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Organising a new share certificate is often a lengthy process and frustrates many a Aldwych home move. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Aldwych. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Most definitely. We are happy to put you in touch with a Aldwych conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Aldwych residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired lease term was 73.26 years.

Aldwych Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

The best form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the lessees benefit from being in charge if their destiny and although a managing agent is usually retained if it is larger than a house conversion, the managing agent retained by the leaseholders. Please note if it is no more than eighty years it will affect the value of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the property for 24 months before you are legally able to carry out a lease extension. Who is in charge of the block?