My husband and I may need to sub-let our Sunningdale 1st floor flat temporarily due to a new job. We instructed a Sunningdale conveyancing firm in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

A lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, 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 Sunningdale do not contain subletting altogether – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I own a leasehold flat in Sunningdale. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Sunningdale who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Sunningdale conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two maisonettes in Sunningdale which have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Sunningdale is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and banks, leases with less than 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 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 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 Sunningdale 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

I am a negotiator for a busy estate agent office in Sunningdale where we have experienced a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Sunningdale conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease 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 buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Completion in due on the sale of our £200000 apartment in Sunningdale next week. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Sunningdale?

Sunningdale conveyancing on leasehold apartments usually requires the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Sunningdale - Examples of Questions you should ask before Purchasing

What is the the remaining lease term? It is important to be aware if redecorating or some other significant cost is due shortly to be shared by the tenants and will dramatically impact the level of the service fees or require a specific invoice. The answer will be important as a) areas could result in problems in the building as the common areas may start to deteriorate where repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have all the details

Other Topics

Lease Extensions in Sunningdale