My partner and I may need to rent out our Sileby ground floor flat for a while due to taking a sabbatical. We instructed a Sileby conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Sileby do contain a provision to say that subletting is only allowed with permission. 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.

Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Sileby. I now want to extend my lease but my landlord is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have made all reasonable attempts to find the landlord. For most situations a specialist should be helpful to carry out a search and to produce an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Sileby.

Looking forward to exchange soon on a basement flat in Sileby. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?

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

• Does the lease prohibit wood flooring?

I am tempted by the attractive purchase price for a two apartments in Sileby both have in the region of forty five years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Sileby is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of buyers and lenders, 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 Sileby 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

All being well we will complete the disposal of our £225000 apartment in Sileby next Monday . The management company has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Sileby?

Sileby conveyancing on leasehold apartments more often than not necessitates the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice 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.

Leasehold Conveyancing in Sileby - Sample of Questions you should consider Prior to Purchasing

It would be wise to find out as much as possible concerning the company managing the building as they will either make life much simpler or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the communal areas. Enquire of prospective neighbours what they think of them. In conclusion, be sure you know the dates that the service fees are due to the appropriate party and precisely how they are spending that money. How much is the annual maintenance fee and ground rent? It is important to be aware if a new roof is being installed or some other major work is pending to be shared by the leaseholders and could well materially impact the level of the maintenance costs or result in a one time invoice.

Other Topics

Lease Extensions in Sileby