Helen (my wife) and I may need to sub-let our Trefnant garden flat temporarily due to a career opportunity. We used a Trefnant conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Your lease dictates relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Trefnant do not contain subletting altogether – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I am hoping to sign contracts shortly on a ground floor flat in Trefnant. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Trefnant should include some of the following:

• You should be sent a copy of the lease

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Trefnant. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Trefnant ?

The majority of houses in Trefnant are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Trefnant in which case you should be shopping around for a Trefnant conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.

I am looking at a couple of flats in Trefnant both have in the region of fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Trefnant is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of buyers and mortgage companies, leases with less than eighty years become less and less marketable. 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 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 Trefnant 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 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 makes a Trefnant lease problematic?

Leasehold conveyancing in Trefnant is not unique. Most leases is drafted differently and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts 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

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Platform Home Loans Ltd all have express 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 grant the mortgage, forcing the purchaser to pull out.

Trefnant Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

This information is useful as a) areas could cause problems in the block as the common areas may begin to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the running of the building you will wish to have all the details What is the the remaining lease term? Make sure you investigate if there are any onerous prohibitions in the lease. For instance it is very common in Trefnant leases that pets are not permitted in in a block in Trefnant. If you love the apartmentin Trefnant yet your cat is not allowed to move with you then you will be faced hard determination.

Other Topics

Lease Extensions in Trefnant