Harry (my fiance) and I may need to let out our Winterbourne 1st floor flat for a while due to a career opportunity. We instructed a Winterbourne conveyancing firm in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Winterbourne do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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 permission.

Looking forward to sign contracts shortly on a ground floor flat in Winterbourne. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Winterbourne. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Winterbourne ?

Most houses in Winterbourne are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Winterbourne so you should seriously consider shopping around for a Winterbourne conveyancing practitioner and be sure 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 tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I am looking at a two maisonettes in Winterbourne which have approximately fifty years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Winterbourne is a deteriorating 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. For most buyers and lenders, leases with under 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 a residence 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 Winterbourne 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 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.

Are there common problems that you come across in leases for Winterbourne properties?

Leasehold conveyancing in Winterbourne is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

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

How many years are left on the lease? What prohibitions are there in the Winterbourne Lease? If a Winterbourne lease has fewer than 80 years it will have adverse implications on the marketability of the flat. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will probably require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you would be required to have owned the residence for 24 months before you are entitled to extend the lease.

Other Topics

Lease Extensions in Winterbourne