My husband and I may need to let out our Umberleigh basement flat for a while due to a new job. We instructed a Umberleigh conveyancing firm in 2003 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Umberleigh conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of prior consent. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I am tempted by the attractive purchase price for a couple of apartments in Umberleigh both have about 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Umberleigh is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with less than eighty years become less and less attractive. 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 Umberleigh conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 Umberleigh. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

What advice can you give us when it comes to finding a Umberleigh conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Umberleigh conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Umberleigh conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then what is the reason?

All being well we will complete the sale of our £175000 apartment in Umberleigh on Wednesday in a week. The managing agents has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Umberleigh?

Umberleigh conveyancing on leasehold apartments usually requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to assist. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

Leasehold Conveyancing in Umberleigh - A selection of Queries Prior to Purchasing

Its a good idea 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 will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the communal areas. Enquire of other tenants if they are happy with their service. On a final note, investigate as to the dates that the maintenance charges are due to the appropriate party and precisely what it includes. Is the freehold owned jointly by the leaseholders? What is the name of the managing agents?

Other Topics

Lease Extensions in Umberleigh