My wife and I may need to let out our Matlock ground floor flat for a while due to a career opportunity. We used a Matlock conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Even though your previous Matlock conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

Due to complete next month on a leasehold property in Matlock. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should be told what counts as a Nuisance in the lease

I am a negotiator for a reputable estate agent office in Matlock where we have experienced a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Matlock conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

What are your top tips when it comes to finding a Matlock conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Matlock conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Matlock conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

When it comes to leasehold conveyancing in Matlock what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Matlock. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• 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 can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and Alliance & Leicester all have very detailed conveyancing instructions 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 withdraw.

Leasehold Conveyancing in Matlock - Sample of Questions you should consider Prior to Purchasing

How long is the Lease? Please note that where the lease has fewer than eighty years it will have adverse implications on the salability of the apartment. It is worth checking with your lender that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you would be required to have been the owner of the premises for two years in order to be eligible to carry out a lease extension. It is important to be aware whether a new roof is being put on or some other significant cost is due in the foreseeable future that will be shared between the tenants and could well materially impact the level of the maintenance charges or result in a specific invoice.

Other Topics

Lease Extensions in Matlock