My wife and I may need to rent out our St Neots 1st floor flat for a while due to a new job. We instructed a St Neots conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in St Neots 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 review references. Experience dictates 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 consent.

I only have Fifty years left on my flat in St Neots. I am keen to extend my lease but my freeholder is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole an enquiry agent should be helpful to try and locate and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering St Neots.

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in St Neots. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in St Neots ?

Most houses in St Neots are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in St Neots in which case you should be looking for a St Neots 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 will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am a negotiator for a reputable estate agency in St Neots where we have witnessed a number of flat sales derailed as a result of short leases. I have been given contradictory information from local St Neots conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any top tips for leasehold conveyancing in St Neots with the intention of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in St Neots can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
• The majority freeholders or managing agents in St Neots charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in St Neots.

St Neots Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

What is the name of the managing agents? Please note that where the lease has fewer than 80 years it will impact the value of the apartment. It is worth checking with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will be required to have been the owner of the residence for 24 months in order to be eligible to extend the lease. Generally speaking the outlay for major works are not included within service charges, although some managing agents in St Neots ask leaseholders to pay into a reserve fund and this is used to offset against major works.

Other Topics

Lease Extensions in St Neots