My husband and I may need to sub-let our Southport 1st floor flat for a while due to a career opportunity. We instructed a Southport conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Southport conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

Looking forward to exchange soon on a studio apartment in Southport. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
• The physical extent of the premises. This will be the apartment itself but may include a roof space or basement if appropriate.
• Setting out your legal entitlements in respect of common areas in the block.For example, does the lease grant a right of way over a path or hallways?
• You should be told what constitutes a Nuisance in the lease
• You should have a good understanding of the insurance provisions
• What the implications are if you breach a clause of your lease?

I have just appointed agents to market my garden flat in Southport.Conveyancing has not commenced but I have just had a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 managing agents will not acknowledge the buyer until 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 attracted to a two maisonettes in Southport which have about 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Southport. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

What makes a Southport lease unmortgageable?

Leasehold conveyancing in Southport is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

Southport Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

Best to be warned if redecorating or some other significant cost is due in the near future to be shared amongst the tenants and may well dramatically increase the the maintenance costs or result in a one off payment.