My fiance and I may need to let out our Oldland 1st floor flat for a while due to taking a sabbatical. We used a Oldland conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your previous Oldland conveyancing lawyer is no longer around you can review your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Oldland. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Oldland ?

The majority of houses in Oldland are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Oldland in which case you should be looking for a Oldland conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.

I am attracted to a couple of flats in Oldland which have about forty five years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Oldland. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Oldland from the point of view of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Oldland can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
• Many landlords or Management Companies in Oldland levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Oldland.
• A minority of Oldland leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Obtaining a replacement share certificate is often a time consuming process and frustrates many a Oldland home move. Where a new share is needed, do contact the company officers or managing agents (where relevant) for this as soon as possible.

What makes a Oldland lease problematic?

There is nothing unique about leasehold conveyancing in Oldland. All leases are unique and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and Aldermore 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 problematic they may refuse to provide security, obliging the purchaser to withdraw.

I own a 1st floor flat in Oldland, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Oldland with over 90 years remaining are worth £256,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ends on 21st October 2104

You have 78 years unexpired the likely cost is going to range between £10,500 and £12,000 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.