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Lunt leasehold conveyancing: Q and A’s

My partner and I may need to sub-let our Lunt garden flat for a while due to a new job. We used a Lunt conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

The lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, 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 Lunt do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Lunt. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Lunt ?

Most houses in Lunt are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Lunt in which case you should be looking for a Lunt conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

I work for a reputable estate agent office in Lunt where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Lunt conveyancing firms. Can you confirm 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

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

If you are instructing a conveyancer for your lease extension (regardless if they are a Lunt conveyancing firm) it is essential 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 Lunt conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If they are not ALEP accredited then why not?
  • How many lease extensions have they carried out in Lunt in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Lunt with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Lunt can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers solicitors.
    • Many landlords or managing agents in Lunt levy fees for providing management packs for a leasehold premises. You or your lawyers should discover 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 receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Lunt.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Lunt leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you fail to have the approvals to hand do not contact the landlord without contacting your conveyancer before hand.
  • Some Lunt leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and delays many a Lunt home move. If a duplicate share is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

    • Lunt Leasehold Conveyancing - A selection of Queries Prior to buying

      Make sure you enquire if there is anything that is prohibited in the lease. For instance it is very common in Lunt leases that pets are not permitted in in a block in Lunt. If you love the flatin Lunt however your dog is not allowed to live with you then you have a very hard decision. Who are the managing agents? On the whole the outlay for major works tend not to be incorporated into the maintenance charges, although some managing agents in Lunt ask tenants to contribute towards a reserve fund and this is used to offset against major works.

    Other Topics

    Lease Extensions in Lunt