Helen (my wife) and I may need to sub-let our Surrey Quays 1st floor flat temporarily due to a new job. We instructed a Surrey Quays conveyancing firm in 2001 but they have closed 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?

Notwithstanding that your last Surrey Quays conveyancing solicitor is not available you can review your lease to check 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 via your landlord or some other party before subletting. The net result is that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Surrey Quays. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Surrey Quays ?

Most houses in Surrey Quays are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Surrey Quays so you should seriously consider shopping around for a Surrey Quays conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.

I am attracted to a couple of flats in Surrey Quays both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Surrey Quays is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers 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 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 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 Surrey Quays 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Can you offer any advice when it comes to finding a Surrey Quays conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Surrey Quays conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Surrey Quays conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Surrey Quays who can give a testimonial?

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

• A significant proportion of the frustration in leasehold conveyancing in Surrey Quays can be avoided where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• The majority freeholders or Management Companies in Surrey Quays charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Surrey Quays.
• A minority of Surrey Quays leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Surrey Quays conveyancing firm to represent me?

Most definitely. We can put you in touch with a Surrey Quays conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Surrey Quays flat is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired lease term was 101.61 years.

Surrey Quays Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

What restrictions are contained in the Surrey Quays Lease? You should want to find out as much as possible regarding the managing agents as they will either make your life much easier or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to every day issues like the cleanliness of the common parts. Ask other people what they think of their service. In conclusion, be sure you know the dates that the maintenance charges are due to the managing agents and precisely what it includes.