I want to sublet my leasehold flat in St Ives. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous St Ives conveyancing lawyer is not 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 need to obtain permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

There are only Seventy years unexpired on my flat in St Ives. I now want to extend my lease but my freeholder is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent should be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering St Ives.

Expecting to complete next month on a garden flat in St Ives. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?

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

• The total extent of the demise. This will be the flat itself but might include a loft or basement if appropriate.
• Setting out your rights in respect of the communal areas in the building.For instance, does the lease include a right of way over a path or staircase?
• Whether the lease restricts you from subletting the property, or having a home office for business
• You need to be told what constitutes a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions

I am tempted by the attractive purchase price for a two flats in St Ives both have approximately 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in St Ives is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and lenders, leases with under 75 years become less and less marketable. On a more positive 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 premises 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 St Ives 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.

Do you have any top tips for leasehold conveyancing in St Ives from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in St Ives can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
• If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in St Ives state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such changes. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your solicitor before hand.
• Some St Ives leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
• You believe that you know the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I own a split level flat in St Ives, conveyancing formalities finalised in 2008. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in St Ives with a long lease are worth £251,000. The ground rent is £55 yearly. The lease ceases on 21st October 2100

With 74 years unexpired we estimate the premium for your lease extension to span between £12,400 and £14,200 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.