I would like to let out my leasehold flat in Penrith. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

The lease governs the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Penrith do not contain subletting altogether – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I am attracted to a two maisonettes in Penrith both have in the region of forty five years unexpired on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Penrith is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and banks, leases with under 75 years become less and less attractive. 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 a residence 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 Penrith 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 work for a long established estate agent office in Penrith where we see a number of leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Penrith conveyancing firms. Please can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has owned the lease 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 buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Can you provide any top tips for leasehold conveyancing in Penrith from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Penrith can be reduced if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Penrith state that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such changes. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand.
• A minority of Penrith leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 lawyers.
• If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Arranging a duplicate share certificate is often a lengthy process and frustrates many a Penrith conveyancing deal. Where a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

If all goes to plan we aim to complete the sale of our £ 425000 flat in Penrith next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Penrith?

Penrith conveyancing on leasehold maisonettes usually involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

I am the registered owner of a basement flat in Penrith, conveyancing having been completed 1997. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Penrith with an extended lease are worth £269,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2079

With only 53 years unexpired we estimate the price of your lease extension to range between £32,300 and £37,400 plus legals.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.