I would like to let out my leasehold apartment in Tamworth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A small minority of properties in Tamworth do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse 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've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Tamworth. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Tamworth ?

Most houses in Tamworth are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Tamworth in which case you should be shopping around for a Tamworth conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

I am attracted to a couple of flats in Tamworth which have in the region of forty five years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Tamworth. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a busy estate agent office in Tamworth where we have experienced a number of flat sales derailed due to short leases. I have received inconsistent advice from local Tamworth conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having 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 prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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.

Can you offer any advice when it comes to choosing a Tamworth conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Tamworth 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 Tamworth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

Tamworth Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

Many Tamworth leasehold properties will be liable to pay a service charge for the upkeep of the block levied on behalf of the freeholder. Should you acquire the flat you will have to meet this amount, usually in instalments throughout the year. This could be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent for you to pay annual, ordinarily this is not a exorbitant sum, say approximately £25-£75 but you should to enquire it because occasionally it can be many hundreds of pounds. The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants enjoy being in charge if their destiny and although a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Where a Tamworth lease has less than eighty years it will affect the value of the flat. Check with your lender that they are content with remaining years on the lease. Leases with fewer 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 what this would cost. Remember, in most cases you would be required to have owned the property for a couple of years in order to be eligible to extend the lease.

Other Topics

Lease Extensions in Tamworth