Helen (my wife) and I may need to rent out our Ilkeston 1st floor flat for a while due to a new job. We used a Ilkeston conveyancing firm in 2004 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

The lease dictates the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Ilkeston do not prevent 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 copy of the sublease.

Expecting to sign contracts shortly on a ground floor flat in Ilkeston. Conveyancing lawyers assured me 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 Ilkeston should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
• The physical extent of the premises. This will be the property itself but could also include a roof space or cellar if applicable.
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

I am employed by a busy estate agency in Ilkeston where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Ilkeston conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible 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 Ilkeston with the intention of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Ilkeston can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
• Many landlords or managing agents in Ilkeston levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Ilkeston.
• If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and delays many a Ilkeston conveyancing transaction. Where a new share is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify 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.

Are there common problems that you encounter in leases for Ilkeston properties?

There is nothing unique about leasehold conveyancing in Ilkeston. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. 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 premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Barnsley Building Society, and TSB all have express 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, forcing the buyer to pull out.

I purchased a 2 bed flat in Ilkeston, conveyancing was carried out in 1995. Can you work out an approximate cost of a lease extension? Similar properties in Ilkeston with an extended lease are worth £266,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2101

With just 75 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.