My fiance and I may need to let out our Princes Risborough garden flat for a while due to taking a sabbatical. We instructed a Princes Risborough conveyancing firm in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease governs relations between the landlord and you the flat owner; in particular, it will set out 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 permitted. Most leases in Princes Risborough do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Planning to complete next month on a basement flat in Princes Risborough. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Princes Risborough should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Will you be prohibited or prevented from having pets in the property?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Changes to the flat (alterations and additions)
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• What you can do if a neighbour is in violation of a provision in their lease?

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Princes Risborough. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Princes Risborough ?

The majority of houses in Princes Risborough are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Princes Risborough in which case you should be shopping around for a Princes Risborough conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

Can you provide any advice for leasehold conveyancing in Princes Risborough with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Princes Risborough can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Princes Risborough leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. Where you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor before hand.
• A minority of Princes Risborough leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
• You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

What are the frequently found deficiencies that you see in leases for Princes Risborough properties?

There is nothing unique about leasehold conveyancing in Princes Risborough. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• 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

You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Barclays Direct 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 is defective they may refuse to provide security, obliging the buyer to withdraw.

I bought a studio flat in Princes Risborough, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Princes Risborough with a long lease are worth £170,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2076

With only 50 years remaining on your lease we estimate the premium for your lease extension to be between £34,200 and £39,600 plus costs.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.