My fiance and I may need to rent out our South Cave ground floor flat temporarily due to a new job. We instructed a South Cave conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous South Cave conveyancing lawyer is no longer around you can review your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.

I am tempted by the attractive purchase price for a couple of apartments in South Cave both have in the region of 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in South Cave is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most buyers and banks, leases with under 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 property 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 South Cave 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 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.

Last month I purchased a leasehold flat in South Cave. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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 be sure 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 advice can you give us when it comes to appointing a South Cave conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a South Cave conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non South Cave 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:

• How many lease extensions has the firm completed in South Cave in the last 12 months?

Can you provide any advice for leasehold conveyancing in South Cave from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in South Cave can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
• The majority landlords or Management Companies in South Cave levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding 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 South Cave.

I bought a garden flat in South Cave, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in South Cave with over 90 years remaining are worth £261,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2099

With just 73 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 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 extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

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Lease Extensions in South Cave