I want to let out my leasehold apartment in South Woodham Ferrers. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Your lease dictates the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in South Woodham Ferrers do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I have just appointed agents to market my 2 bed flat in South Woodham Ferrers.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in South Woodham Ferrers. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in South Woodham Ferrers ?

The majority of houses in South Woodham Ferrers are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in South Woodham Ferrers in which case you should be looking for a South Woodham Ferrers conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

I am looking at a two maisonettes in South Woodham Ferrers both have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in South Woodham Ferrers is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and lenders, leases with less than eighty 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 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 Woodham Ferrers 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 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.

Can you provide any top tips for leasehold conveyancing in South Woodham Ferrers with the intention of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in South Woodham Ferrers can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
• Many freeholders or Management Companies in South Woodham Ferrers charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in South Woodham Ferrers.
• If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in South Woodham Ferrers state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the approvals in place you should not communicate with the landlord without contacting your solicitor in advance.
• If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Obtaining a new share certificate can be a time consuming process and frustrates many a South Woodham Ferrers home move. If a new share is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I inherited a basement flat in South Woodham Ferrers, conveyancing formalities finalised in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in South Woodham Ferrers with over 90 years remaining are worth £179,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2090

You have 64 years unexpired we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.