Frank (my husband) and I may need to sub-let our Yelverton ground floor flat temporarily due to a career opportunity. We used a Yelverton conveyancing firm in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Yelverton do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Yelverton. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Yelverton ?

The majority of houses in Yelverton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Yelverton so you should seriously consider shopping around for a Yelverton conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Yelverton. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Yelverton who previously acted has long since retired.What should I do?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Yelverton conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a long established estate agent office in Yelverton where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Yelverton conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you provide any advice for leasehold conveyancing in Yelverton with the purpose of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Yelverton can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
• The majority freeholders or managing agents in Yelverton charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Yelverton.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Yelverton state that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such changes. Where you dont have the paperwork to hand you should not communicate with the landlord without contacting your lawyer first.
• Some Yelverton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Yelverton Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Who are the managing agents?