Frank (my husband) and I may need to sub-let our Princes Risborough basement flat for a while due to taking a sabbatical. We used a Princes Risborough conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Princes Risborough conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to seek permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without prior permission. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Princes Risborough. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Princes Risborough are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Princes Risborough in which case you should be looking for a Princes Risborough conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

I own a leasehold house in Princes Risborough. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Princes Risborough who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Princes Risborough conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a long established estate agent office in Princes Risborough where we have experienced a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Princes Risborough conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

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. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

In relation to leasehold conveyancing in Princes Risborough what are the most common lease defects?

Leasehold conveyancing in Princes Risborough is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• 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 a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

Princes Risborough Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

Many Princes Risborough leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced on behalf of the freeholder. Should you acquire the apartment you will have to meet this contribution, usually in instalments throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge for you to pay annual, this is usually not a significant sum, say about £25-£75 but you should to check it because occasionally it can be many hundreds of pounds. Who is in charge of the block? This question is important as a) areas may cause problems for the block as the common areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will want to know about it

Other Topics

Lease Extensions in Princes Risborough