I wish to rent out my leasehold apartment in Barnstaple. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Barnstaple do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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.

I am hoping to exchange soon on a ground floor flat in Barnstaple. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

I've recently bought a leasehold flat in Barnstaple. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. Strange as it may seem, 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).

I am a negotiator for a busy estate agent office in Barnstaple where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Barnstaple conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

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.

What makes a Barnstaple lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Barnstaple. Most leases are unique and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

I inherited a 2 bed flat in Barnstaple, conveyancing having been completed 1997. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Barnstaple with a long lease are worth £242,000. The ground rent is £65 levied per year. The lease finishes on 21st October 2096

With only 72 years left to run the likely cost is going to span between £10,500 and £12,000 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Barnstaple