Helen (my wife) and I may need to rent out our Upper Clapton 1st floor flat temporarily due to a new job. We used a Upper Clapton conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Upper Clapton conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to seek permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior consent. The consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Due to complete next month on a basement flat in Upper Clapton. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• The physical extent of the property. This will be the flat itself but could also incorporate a loft or basement if applicable.

I am looking at a couple of maisonettes in Upper Clapton both have about forty five years left on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Upper Clapton 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 salability of the property. For most buyers and banks, leases with less than eighty 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 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 Upper Clapton 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 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've recently bought a leasehold house in Upper Clapton. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

When appointing a solicitor for your lease extension (regardless if they are a Upper Clapton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Upper Clapton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How many lease extensions have they completed in Upper Clapton in the last twenty four months?

After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Upper Clapton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

An example of a Lease Extension matter before the tribunal for a Upper Clapton property is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 59 years.

Other Topics

Lease Extensions in Upper Clapton