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

The lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Penrith do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Looking forward to sign contracts shortly on a basement flat in Penrith. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Penrith should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

I've recently bought a leasehold flat in Penrith. Am I liable to pay service charges for periods before my ownership?

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. It is an essential part 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).

Can you offer any advice when it comes to appointing a Penrith conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Penrith conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Penrith 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:

• Can they put you in touch with client in Penrith who can give a testimonial?

What makes a Penrith lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Penrith. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements 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

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

I inherited a studio flat in Penrith, conveyancing was carried out 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Penrith with over 90 years remaining are worth £216,000. The ground rent is £65 per annum. The lease runs out on 21st October 2079

With only 54 years left to run the likely cost is going to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Penrith