I wish to let out my leasehold flat in Tilehurst. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Tilehurst do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests 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 permission.

I am hoping to sign contracts shortly on a leasehold property in Tilehurst. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Tilehurst should include some of the following:

• You should receive a copy of the lease

I am tempted by the attractive purchase price for a two apartments in Tilehurst which have approximately forty five years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Tilehurst is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most buyers and mortgage companies, 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 premises 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 property 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 Tilehurst 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Last month I purchased a leasehold flat in Tilehurst. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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).

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

When appointing a conveyancer for your lease extension (regardless if they are a Tilehurst 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 make enquires with several firms including non Tilehurst conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• What volume of lease extensions have they conducted in Tilehurst in the last twenty four months?

Tilehurst Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

Best to be warned if fixing the lift or some other significant cost is due in the foreseeable future that will be shared amongst the leasehold owners and will materially increase the the maintenance charges or require a one off payment. Are any of leasehold owners in dispute over their service charge liability? On the whole the cost for major works tend not to be wrapped into the maintenance charges, although there some managing agents in Tilehurst ask tenants to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance.

Other Topics

Lease Extensions in Tilehurst