I am intending to let out my leasehold flat in Seaton Delaval. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

The lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Seaton Delaval do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am hoping to sign contracts shortly on a ground floor flat in Seaton Delaval. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Seaton Delaval should include some of the following:

• Does the lease require carpeting throughout thus preventing wood flooring?

I am looking at a two flats in Seaton Delaval which have about fifty years unexpired on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Seaton Delaval is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and mortgage companies, leases with less than eighty years become less and less attractive. 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 property 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 Seaton Delaval conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.

What are your top tips when it comes to choosing a Seaton Delaval conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Seaton Delaval conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Seaton Delaval conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

Completion in due on the sale of our £200000 apartment in Seaton Delaval in just under a week. The freeholder has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Seaton Delaval?

Seaton Delaval conveyancing on leasehold apartments normally requires the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

Seaton Delaval Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

Be sure to discover if there is anything that is prohibited in the lease. For example it is very common in Seaton Delaval leases that pets are not permitted in in a block in Seaton Delaval. If you love the flatin Seaton Delaval but your dog can’t move with you then you will be faced hard decision. On the whole the cost for major works are not wrapped into the service charges, although a few managing agents in Seaton Delaval ask tenants to contribute towards a sinking fund and this is used to offset against larger works. The prefered form of lease structure is if the freehold interest is owned by the leaseholders. In this scenario the leaseholders enjoy control and even though a managing agent is frequently employed if it is larger than a house conversion, the managing agent retained by the leaseholders.

Other Topics

Lease Extensions in Seaton Delaval