I am on look out for some leasehold conveyancing in Oldland. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Oldland - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Jane (my partner) and I may need to sub-let our Oldland ground floor flat for a while due to a new job. We used a Oldland conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

The lease governs relations between the landlord and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Oldland do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Estate agents have just been given the go-ahead to market my 2 bed flat in Oldland.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – Do I pay up?

The sensible thing to do is clear the invoice 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of flats in Oldland which have about forty five years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Oldland. The lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to finding a Oldland conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Oldland conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Oldland conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• What volume of lease extensions has the firm completed in Oldland in the last 12 months?

Oldland Leasehold Conveyancing - A selection of Questions you should consider before buying

What is the length of the lease? Most Oldland leasehold apartments will incur a service bill for the upkeep of the block invoiced on behalf of the freeholder. If you buy the apartment you will have to meet this contribution, usually periodically accross the year. This can differ from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge to be met yearly, ordinarily this is not a significant figure, say about £50-£100 but you should to enquire as occasionally it can be many hundreds of pounds. The prefered form of lease structure is where the freehold title is owned by the leaseholders. In this situation the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Oldland