Helen (my wife) and I may need to rent out our Walthamstow Village 1st floor flat temporarily due to taking a sabbatical. We instructed a Walthamstow Village conveyancing firm in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

A small minority of properties in Walthamstow Village do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

You should [be sent a copy of the lease|receive a copy of the lease]

Looking forward to exchange soon on a garden flat in Walthamstow Village. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• The physical extent of the premises. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
• Whether the lease restricts you from renting out the property, or working from home
• 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?
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• What the implications are if you breach a clause of your lease?

For a comprehensive list of information to be contained in your report on your leasehold property in Walthamstow Village please ask your conveyancer in ahead of your conveyancing in Walthamstow Village

I am tempted by the attractive purchase price for a couple of flats in Walthamstow Village which have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Walthamstow Village is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less attractive. 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 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 premises 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 Walthamstow Village 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.

Can you offer any advice when it comes to appointing a Walthamstow Village conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Walthamstow Village conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Walthamstow Village conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?
• If they are not ALEP accredited then why not?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 250000 maisonette in Walthamstow Village next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Walthamstow Village?

Walthamstow Village conveyancing on leasehold apartments often necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Having spent years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Walthamstow Village. Can we issue an application to the Residential Property Tribunal Service?

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

An example of a Freehold Enfranchisement matter before the tribunal for a Walthamstow Village premises is 32 Howard Road in June 2012. the Tribunal held that premium payable for the freehold reversion should be £35,825 This case was in relation to 2 flats. The unexpired term was 64 years.

I purchased a basement flat in Walthamstow Village, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Walthamstow Village with a long lease are worth £259,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2089

With just 63 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.