My husband and I may need to sub-let our Redruth basement flat temporarily due to a career opportunity. We instructed a Redruth conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

A small minority of properties in Redruth do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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 permission.

I am tempted by the attractive purchase price for a two apartments in Redruth both have about 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Redruth. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

I've recently bought a leasehold house in Redruth. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

What are your top tips when it comes to finding a Redruth conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Redruth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Redruth conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• If they are not ALEP accredited then why not?

What are the common problems that you encounter in leases for Redruth properties?

There is nothing unique about leasehold conveyancing in Redruth. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. 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 building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have 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. Santander, Coventry Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

I inherited a 2 bed flat in Redruth, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Redruth with a long lease are worth £232,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2099

You have 73 years left to run we estimate the price of your lease extension to range between £11,400 and £13,200 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 the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Redruth