I am intending to rent out my leasehold apartment in Leaves Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease governs the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Leaves Green do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Planning to complete next month on a studio apartment in Leaves Green. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• 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 reserve fund?
• You should have a good understanding of the insurance provisions
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• What options are open to you if a neighbour is in violation of a provision in their lease?

I am attracted to a couple of maisonettes in Leaves Green both have approximately 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Leaves Green is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers and lenders, leases with less than 75 years become less and less marketable. 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 Leaves Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

I am employed by a busy estate agent office in Leaves Green where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Leaves Green conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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 purchaser.

Do you have any advice for leasehold conveyancing in Leaves Green with the intention of expediting the sale process?

• Much of the delay in leasehold conveyancing in Leaves Green can be bypassed where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers solicitors.
• The majority freeholders or managing agents in Leaves Green levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Leaves Green.
• A minority of Leaves Green leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
• If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to 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 better to present the dispute as historic as opposed to unsettled.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Leaves Green conveyancing firm to represent me?

You certainly can. We are happy to put you in touch with a Leaves Green conveyancing firm who can help.

An example of a Lease Extension case for a Leaves Green premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 50.57 years.

Leaves Green Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Is there a share of the freehold? Does the lease include onerous restrictions? Its a good idea to discover as much as possible about the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the common parts. Don't be afraid to ask prospective neighbours whether they are happy with them. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and precisely what it includes.