My wife and I may need to let out our Petts Wood basement flat for a while due to a career opportunity. We instructed a Petts Wood conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your last Petts Wood conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent must not not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I have just appointed agents to market my garden flat in Petts Wood.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

It best that you clear 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 management companies 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. This will smooth the conveyancing process.

Do you have any advice for leasehold conveyancing in Petts Wood from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Petts Wood can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Petts Wood state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such alterations. If you dont have the approvals in place you should not contact the landlord without contacting your conveyancer before hand.
• A minority of Petts Wood leases require Licence to Assign from the landlord. If this applies to your lease, 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 will need to confirm that the buyers are financially capable of paying the yearly 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 are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Organising a replacement share certificate can be a time consuming formality and frustrates many a Petts Wood conveyancing deal. If a new share certificate is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

If all goes to plan we aim to complete the sale of our £ 450000 apartment in Petts Wood in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Petts Wood?

Petts Wood conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor submitting questions 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 levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.

I have given up trying to reach an agreement for a lease extension in Petts Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

An example of a Lease Extension matter before the tribunal for a Petts Wood residence 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 related to 1 flat. The unexpired lease term was 50.57 years.

What makes a Petts Wood lease defective?

There is nothing unique about leasehold conveyancing in Petts Wood. Most leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

I bought a basement flat in Petts Wood, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Petts Wood with a long lease are worth £176,000. The ground rent is £65 yearly. The lease ceases on 21st October 2106

You have 80 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.