I want to rent out my leasehold flat in Padstow. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Padstow do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Estate agents have just been given the go-ahead to market my basement apartment in Padstow.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?

It best that you discharge 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Padstow. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Padstow are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Padstow in which case you should be shopping around for a Padstow conveyancing solicitor and be sure that they are used to 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 such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

I work for a reputable estate agent office in Padstow where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Padstow conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as 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. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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 the frequently found problems that you come across in leases for Padstow properties?

Leasehold conveyancing in Padstow is not unique. All leases are unique and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Virgin Money, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

I inherited a 1 bedroom flat in Padstow, conveyancing having been completed in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Padstow with an extended lease are worth £187,000. The ground rent is £55 per annum. The lease ends on 21st October 2099

With just 74 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Padstow