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

Notwithstanding that your last Sharnbrook conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to obtain permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I am hoping to sign contracts shortly on a basement flat in Sharnbrook. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• Defining your legal entitlements in respect of common areas in the building.E.G., does the lease include a right of way over a path or hallways?

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 all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Sharnbrook. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Sharnbrook are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Sharnbrook so you should seriously consider looking for a Sharnbrook conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am looking at a two maisonettes in Sharnbrook which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

What advice can you give us when it comes to finding a Sharnbrook conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Sharnbrook conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Sharnbrook conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If they are not ALEP accredited then what is the reason?

I am the registered owner of a 1st floor flat in Sharnbrook, conveyancing formalities finalised 2001. Can you work out an approximate cost of a lease extension? Comparable flats in Sharnbrook with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2104

With just 79 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Sharnbrook