I want to sublet my leasehold flat in Sutton in Ashfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Sutton in Ashfield conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Sutton in Ashfield. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Sutton in Ashfield ?

The majority of houses in Sutton in Ashfield are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Sutton in Ashfield in which case you should be looking for a Sutton in Ashfield conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I own a leasehold house in Sutton in Ashfield. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Sutton in Ashfield who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Sutton in Ashfield conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Sutton in Ashfield which have in the region of forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Sutton in Ashfield is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more upbeat 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 a residence 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 Sutton in Ashfield 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.

What advice can you give us when it comes to choosing a Sutton in Ashfield conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Sutton in Ashfield conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Sutton in Ashfield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• What volume of lease extensions have they carried out in Sutton in Ashfield in the last 12 months?

Sutton in Ashfield Leasehold Conveyancing - Sample of Questions you should consider before buying

Please tell me if there are any major works anticipated that will increase the service fees? You should want to discover as much as you can regarding the company managing the building as they will either make living at the property much easier or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to every day matters such as the cleanliness of the common parts. Don't be shy to ask prospective neighbours what they think of them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. You should be aware that where the lease has fewer than 80 years it will impact the salability of the flat. It is worth checking with your mortgage company that they are happy with the length of the lease. A short lease means that you will most likely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will need to own the residence for two years before you are eligible to extend the lease.

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Lease Extensions in Sutton in Ashfield