Frank (my husband) and I may need to let out our Barlborough ground floor flat for a while due to a career opportunity. We instructed a Barlborough conveyancing firm in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

A lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Barlborough do not contain subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Due to complete next month on a basement flat in Barlborough. Conveyancing solicitors have said that they report fully next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Barlborough should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

My wife and I purchased a leasehold flat in Barlborough. Conveyancing and Clydesdale mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Barlborough who acted for me is not around.Any advice?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Barlborough conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Barlborough which have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Barlborough is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. 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 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 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 Barlborough 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.

Can you offer any advice when it comes to appointing a Barlborough conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Barlborough conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Barlborough conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

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

I bought a leasehold flat in Barlborough, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Barlborough with a long lease are worth £172,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2099

You have 74 years left to run the likely cost is going to range between £10,500 and £12,000 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Barlborough