I would like to rent out my leasehold apartment in Sandiacre. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Sandiacre do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

My wife and I purchased a leasehold house in Sandiacre. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Sandiacre who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Sandiacre conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Sandiacre both have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Sandiacre is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of buyers and lenders, leases with under 75 years become less and less marketable. 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 premises 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 Sandiacre 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Do you have any advice for leasehold conveyancing in Sandiacre with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Sandiacre can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
• Many freeholders or Management Companies in Sandiacre levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Sandiacre.

Are there frequently found problems that you witness in leases for Sandiacre properties?

Leasehold conveyancing in Sandiacre is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. 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
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Coventry Building Society, and Godiva Mortgages Ltd 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, obliging the buyer to withdraw.

I inherited a 1 bedroom flat in Sandiacre, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Sandiacre with a long lease are worth £259,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2095

With just 72 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do 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. You should not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Sandiacre