I am intending to let out my leasehold apartment in Mayfield. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs relations between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Mayfield do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am hoping to sign contracts shortly on a studio apartment in Mayfield. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

I have just started marketing my 2 bed apartment in Mayfield.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Last month I purchased a leasehold property in Mayfield. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

In relation to leasehold conveyancing in Mayfield what are the most frequent lease defects?

Leasehold conveyancing in Mayfield is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Norwich and Peterborough Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I inherited a 2 bed flat in Mayfield, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Mayfield with over 90 years remaining are worth £196,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2087

With 61 years unexpired the likely cost is going to be between £21,900 and £25,200 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

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Lease Extensions in Mayfield