I am in need of some leasehold conveyancing in Winchcombe. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Winchcombe - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Helen (my wife) and I may need to rent out our Winchcombe 1st floor flat for a while due to a career opportunity. We used a Winchcombe conveyancing practice in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Winchcombe do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 consent.

I own a leasehold flat in Winchcombe. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Winchcombe who acted for me is not around.What should I do?

First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Winchcombe conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Winchcombe both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Winchcombe is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and banks, leases with less than 75 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 Winchcombe 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 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 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.

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

If you are instructing a solicitor for your lease extension (regardless if they are a Winchcombe conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Winchcombe 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 useful:

• How experienced is the practice with lease extension legislation?

I invested in buying a 1st floor flat in Winchcombe, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Winchcombe with an extended lease are worth £222,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2100

With 79 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Winchcombe