My partner and I may need to sub-let our Cranham basement flat temporarily due to a career opportunity. We instructed a Cranham 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?

Your lease governs relations between the landlord and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Cranham do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Planning to sign contracts shortly on a studio apartment in Cranham. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Cranham should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Setting out your rights in respect of common areas in the building.For instance, does the lease permit a right of way over an accessway or staircase?
• You must be told what constitutes a Nuisance in the lease
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• What options are open to you if a neighbour breach a clause of their lease?

I work for a reputable estate agent office in Cranham where we have witnessed a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Cranham conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

What are your top tips when it comes to choosing a Cranham conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Cranham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Cranham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?
• What volume of lease extensions have they completed in Cranham in the last 12 months?

Do you have any top tips for leasehold conveyancing in Cranham from the point of view of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Cranham can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
• Many freeholders or Management Companies in Cranham charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Cranham.
• If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate can be a time consuming formality and slows down many a Cranham conveyancing deal. If a duplicate share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
• You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

I inherited a basement flat in Cranham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

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

An example of a Lease Extension matter before the tribunal for a Cranham property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The remaining number of years on the lease was 57.5 years.

Leasehold Conveyancing in Cranham - A selection of Questions you should consider Prior to Purchasing

If a Cranham lease has less than 80 years it will impact the value of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out what this would cost. Remember, in most cases you would need to own the premises for a couple of years before you are eligible to extend the lease. For many Cranham leaseholds the outlay for major works tend not to be incorporated into the maintenance charges, albeit that some managing agents in Cranham obliged leaseholders to contribute towards a sinking fund created for the specific purpose of establishing a fund for major works.