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

Some leases for properties in Penryn do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Penryn. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Penryn are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Penryn in which case you should be looking for a Penryn conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

I work for a reputable estate agency in Penryn where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Penryn conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

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 offer any advice when it comes to choosing a Penryn conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Penryn conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Penryn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How many lease extensions has the firm completed in Penryn in the last 12 months?
• What are the costs for lease extension work?

Can you provide any advice for leasehold conveyancing in Penryn with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Penryn can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
• Many landlords or Management Companies in Penryn levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Penryn.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Penryn leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Where you dont have the paperwork to hand you should not communicate with the landlord without checking with your lawyer in the first instance.
• Some Penryn leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a re-issued share certificate can be a time consuming formality and slows down many a Penryn conveyancing deal. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

I own a garden flat in Penryn, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Penryn with a long lease are worth £180,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2105

With only 79 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.