I wish to sublet my leasehold flat in Newbridge. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

The lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Newbridge do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Newbridge. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Newbridge are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Newbridge so you should seriously consider looking for a Newbridge conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.

I am looking at a couple of apartments in Newbridge both have in the region of fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Newbridge is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and banks, leases with under eighty years become less and less marketable. 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 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 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 Newbridge 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 any new 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 am employed by a busy estate agent office in Newbridge where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Newbridge conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 buyer.

Do you have any top tips for leasehold conveyancing in Newbridge from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Newbridge can be reduced where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Newbridge leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you fail to have the approvals in place do not contact the landlord without checking with your lawyer in advance.

Newbridge Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

Is there a share of the freehold? Please inform me if there are any major works in the planning that will likely add a premium to the maintenance costs? Most Newbridge leasehold apartments will incur a service bill for the upkeep of the block levied on behalf of the management company. Where you buy the flat you will have to pay this liability, usually quarterly accross the year. This may be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge for you to pay yearly, this is usually not a significant sum, say approximately £25-£75 but you should to enquire it because sometimes it could be surprisingly expensive.

Other Topics

Lease Extensions in Newbridge