I am intending to rent out my leasehold flat in Stotfold. 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 relations between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Stotfold do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Stotfold. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Stotfold are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Stotfold so you should seriously consider shopping around for a Stotfold conveyancing practitioner and check that they are used to advising on leasehold houses. First 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 requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

Last month I purchased a leasehold flat in Stotfold. Am I liable to pay service charges for periods before completion of my purchase?

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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 finding a Stotfold conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Stotfold conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Stotfold conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• If they are not ALEP accredited then what is the reason?

When it comes to leasehold conveyancing in Stotfold what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Stotfold. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions 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 elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

I inherited a 1st floor flat in Stotfold, conveyancing was carried out 6 years ago. How much will my lease extension cost? Similar flats in Stotfold with a long lease are worth £269,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2081

With only 56 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Stotfold